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    2009-04-30

    RP effect

    RP finally pulls his trigger. 

    Lafite: 98-100

    Previous: 1590GBP for 1 case
    Now: 3375GBP with 1 case Rieussec(~475GBP)

    Out of my reach. So bet on Carruades de Lafite. 

    2009-04-27

    将进酒

    君不见

    黄河之水天上来
    奔流到海不复回
    君不见
    高堂明镜悲白发
    朝如青丝暮成雪
    人生得意须尽欢
    莫使金樽空对月
    天生我材必有用
    千金散尽还复来
    烹羊宰牛且为乐
    会须一饮三百杯
    岑夫子
    丹丘生
    将进酒
    君莫停
    与君歌一曲
    请君为我侧耳听
    钟鼓馔玉不足贵
    但愿长醉不愿醒
    古来圣贤皆寂寞
    惟有饮者留其名
    陈王昔时宴平乐
    斗酒十千恣讙谑
    主人何为言少钱
    径须沽取对君酌
    五花马
    千金裘
    呼儿将出换美酒
    与尔同消万古愁

    2009-04-26

    Everybody is watching

    what Robert Parker would say about 2008 Bordeaux. The final quote book...

    2009-04-17

    Porsche

    "...a hedge fund with a car showroom." -- Max Warburton

    History tells us, creating and trading risk is more much important than attempt to "manage" it. 

    2009-04-16

    Dual Track Price for Bordeaux?

    While the auction market is beginning to have a break from the free fall starting from 2008 which is best supported by the April Acker HK auction, the 2008 En Primeur, starting releasing this week, gives an opposite signal. 

    100 EUR for Mouton, 110 EUR for Latour, it has been years for consumers to see such a bargain (2008 is not a terrible vintage). Although some said they would stick to the old pricing mechanism, more and more top growths hint they would follow Latour and Mouton's steps. Personally, I am very interested in how Lafite and Cheval Blanc would react. 

    But that doesn't necessarily mean the return of budget wine era. For Bordeaux, divergence is inevitable. Price will fall a lot even for currently reputed wines. But for top names, it would still be a demand side play. 2008 may be just a noise and the bargain release price is just a strategy to test the market and, in certain degree, accelerate the convergence back to the equilibrium. It's just like what used by the HK real estate developer during hard times, just like the dual track price mechanism used in China's transition from central planning to market ecnonmy. 

    Whatever, the young market is experiencing turmoil now and this must be good for all the participants. We all learn from the process.