All quiet on the wine front

Very few specials have popped up in the last week or so, so nothing to report on the wine purchasing front.

A couple of wine tidbits though.

Firstly, it’s now become legal in Victoria, Australia for butchers and hairdressers to sell wine at their premises.  True, I kid you not. See the following link for the whole article:

http://www.skynews.com.au/businessnews/article.aspx?id=558642&vId=

Secondly, an article in today’s Australian Financial Review comments that an IMF study found that investing in wine as portfolio diversification was unlikely to succeed. The article says that “research found prices for fine wine move more or less in tandem with those of other commodities and concludes that such investments don’t really enhance your asset allocation if you already have commodities exposure in your portfolio. The IMF found that the statistical behaviour of crude oil and fine wine prices have shown ‘remarkable similarity’ since 2002 – a correlation of more than 90 per cent over the past decade or so”

It begs two questions:

What inspired the IMF to compare wine and crude oil? and;

Will the correlation move even closer once chemically devised Chinese wine is included in the survey?

“Fakes and rip-offs have troubled the wine market sporadically in the past, but I suspect that was nothing compared to the problems that are brewing right now. The new consumers of Asia are uniquely vulnerable – perhaps more vulnerable than any consumers have ever been before. Not only are Western alphabets and languages unfamiliar to them, but vey often so is the taste of wine itself.” – Andrew Jefford, Decanter, August 2010

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Wine quotations

"A good bottle of wine contains more philosophy than all the books in the world" - Louis Pasteur

“The unexacting palates of the masses…are content to ask no question [on origin] so long as a florin or half-a-crown will purchase a roomy flagon of strong , full-bodied, fruity wine” – CE Hawker writing in 1907

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