Con-tango

Wines… why not?

Chateau Margaux wines.
Source: french-old-wine-club. 

Trophy wines are going up in prices like champagne bubbles. Apparently, positional goods are in strong demand as a consequence of globalization —which has widened the wealth gap, exacerbating the numbers of the filthy?? rich. So a bottle of Petrus 1987 vintage, which used to carry a £65 price tag 10 years ago , sells for £1,000 nowadays… in excess of 15x, a whopping 31 % annual yield.

According to this post from Gideon Rachman:

Some people reckon that it is all a bubble, and that the prices of the
top wines will come crashing down. I don’t believe it. The supply of
the fanciest Bordeaux wines is limited by the fact that they come from
a specific vineyard. But the demand for them will only swell, as
globalisation ensures that the number of new billionaires in search of
“positional goods” keeps rising. In a few year’s time, a case of Pétrus
2005 for £22,000 may seem like a bargain.

Only 250 hectares of vineyards at Chateau Margaux according to Bert from wineterroirs. I like that… especially, if the Margaux investment goes south, you can always call your friends over
and throw a very nice… wine party.

Check: Position goods.

Imagine… yourself

I learned about positive thinking years back… But I found Joe Vitale’s argument quite illuminating: you also have to feel it; not only visualize it. If you’d like to have a house on the beach, go shop for them, walk them through, feel the softness of the carpet under your feet, the subdued colors, the warm temperature, the freedom of larger spaces, the tranquility of success, and the coolness of zipping a glass of white wine by the deck, in a bright and breezy afternoon, with the family surrounding you and the sea in the horizon… And, by the way, take that Porsche Carrera with the smelling like new leather seats, smooth small wooden steering wheel, and let it nail your back to the seat as it accelerates… on a test drive to get you there.

Listen to the importance of persistence… If you give up on your dreams too soon, how are you going to ever know that achieving them was just around the corner..?