On the stratospheric pricing of Bordeaux 2005 futures, Elin McCoy suggests how to avoid the $500 Haut Brion: “So what to buy? Go for second growths such as Leoville- Barton, one of my top picks of the vintage ($100 a bottle), and Pichon-Longueville-Baron ($120). I’d also be happy to drink Lynch-Bages, Pontet-Canet and Leoville-Poyferre (all $85), Lafon-Rochet, Beychevelle and Dame de Montrose ($40 to $50), and Chasse-Spleen ($25) if my ‘investment’ turned south.” [Bloomberg]
The IHT “your money” column urges investment in 2005 Bordeaux futures suggesting a five year timeframe. It’s odd, however, that the piece does not caution about the high price of these futures. So I will. Watch out! Are you really buying low when the price is $500 a bottle? [IHT]
Mariann Fischer Boel, EU Agricultural commissioner, formally outlines her proposals to drain the EU’s “wine lake.” Nothing that we hadn’t already seen coming, but the details are now out. Expect action sometime next year. [EU]
An article summarizing the reform appears here and it underscores “French and Italian” opposition to the plan. However, the opposition is not across the board, as a senior wine official in Bordeaux told DrVino.com recently.
Apologies to Kieslowski for the title of this post.