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    2009-08-25

    One Billion Customers

    By James McGregor.

    A very penetrating book. The description of how systems work in China is precise and insightful. The only pity is the book focuses only on business side.

    2009-08-22

    The Jefferson's Bottles

    It seems the notorious topic has been revoked once again. Check out the NYTimes article :

    I have read the book "The billionaire's vinegar" before I had some knowledge about wine. And then got to know MB (a.k.a. Michael Broadbent). He seems to enjoy an impeccable reputation in wine society. So personally, I think MB has no incentive to be involved in the "crime" even probablistically it's possible and econonmically, he could have done that. He could well claim that he just sticked to his own principles even those principles can easily put a person into an embarassing position under the current law-based, instead of conscience-based, society.

    Actually, this issue becomes so complicated that no final judgment is able to cover all. A law suit is aiming at addressing this problem from an economic angle which has been tried but failed before. But first, it involves with several secret issues that remained unchallenged in high-end market. After all, credit and trust are the default assumptions in such market. If they arebroken, hard to say if it's good. Second, even from economic angle, those buyers, sellers, auction house, even those doubters like Mr. Wallace, are well benefited. So what's the point of a final judgment? It serves no so-called justice purpose but only economic drives of the same greedy people.


    2009-08-21

    Wine Price

    Happened to read a NYTimes 1992 article, some excerpt:

    'In Bordeaux, Peter Sichel of the Maison Sichel negociant said that the average price per bottle for top Bordeaux wines fell to 160 francs (about $33.50 at current exchange rates) for the 1991 vintage, from 205 francs ($43) for the 1990.

    This sharp drop, after several years of mounting prices, partly reflected the fact that the 1990 vintage is widely regarded as superior. But in part, Mr. Sichel said, "it showed that the bubble has burst." '

    Now, it's not surprised to see a good vintage of any top Bordeaux sold for ~$400. In other words, in the 17-year period, by its dollar value, that interprets into a rough compound annual return rate 15%.

    2009-08-19

    Reforming en primeur by Live-Ex

    http://liv-ex.typepad.com/livex_fine_wine_market_bl/2009/05/reforming-en-primeur.html

    I agree that a registration system will facilitate the trading but I doubt it really has any effect before physical delivery. Actually, the multi-layer system currently existent in wine market may well buffer this functionality.

    About the transparency, still, the problem is even you know the supply, you have no idea about the demand.

    After all, if wine becomes just a number game like stocks, then much of the fun is lost. Although the proposal is good, it will hardly get any progress any time soon. Those who would like to adopt it usually don't need En Primeurs, and those who release En Primeurs, wouldn't feel much incentive to realize such a system in the not-so-fierce game.

    First corked wine

    A Veranda 2007. I can't describe the flavor but it just feels different...

    2009-08-08

    Veranda Cabernet/Carmenere 2007

    A really good wine. Has it all just a little bit thin. Just 10 dollars at ParknShop.

    Win the Best Red Blend at 6th Annual Wines of Chile Awards:

    2009-08-06

    Some beautiful pics from Ratatouille

    copyright by WaltDisney (watch out! it's big.)


    The prototype of Chef Gusteau in Ratatouille?

    http://en.wikipedia.org/wiki/Bernard_Loiseau

    Excerpt from Wikipedia:

    "In February 2003, a prominent French chef, Bernard Loiseau, committed suicide after his widely-admired restaurant Côte d'Or in Saulieu was downgraded by the Gault Millau from 19 to 17 points. At the same time a downgrade by Michelin from three to two stars had been rumoured, but was not done and a denial had been issued to the press. Doubt has been placed on this story since, according to Gault Millau, the chef was aware of the downgrade in advance and looking forward to the challenge."