Articles Tagged vinography.com
“Investing” in fine wine is a fool’s errand.
As in, “greater fools” – for it is certainly a fool who hopes to sell his/her speculation to greater fools for a profit.
The term greater fool is actually a pseudo-technical financial one, probably best explained in William J. Bernstein’s amazing book The Four Pillars of Investing (emphasis mine):
“The acquisition of a rare coin or fine painting for purely financial purposes is clearly a speculation: these assets produce no income, and your return is dependent on someone else paying yet a higher price for them later. (This is known as the “greater fool” theory of investing; when you purchase a rapidly appreciating asset with little intrinsic value and no capability to create income on its own, you are dependent on convincing someone else to take it off your hands later at a higher price.) There’s nothing wrong with purchasing any of these things for the future pleasure they may provide, of course, but
this is not the same thing as a financial investment.”
Substitute “coin” with “red Burgundy” and “painting” with “First Growth Bordeaux” and the quote would remain apt, cogent and frighteningly applicable. The bottom line is that holding onto fine wine for any reason other than to eventually drink it (or pass it on to someone else who might) is stupid.
This is because wine does not conform in any way to the modern paradigm of investing, which is built upon lower-risk (and thus lower-returning) loans or higher risk (and thus higher-returning) valuation of something’s (usually a company’s) ability to make profit. At best, it’s a hedge that someone (the greater fool) will want the object badly enough to take it off your hands at a price higher than what you paid for it…
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I’m crazy excited to tell you that I will soon be authoring a freelance wine column on Playboy.com.
So now you have some legitimacy behind the “I’m just going there for the articles, honey!” excuse (you’re welcome!).
The folks behind Playboy.com reached out to me many moons ago, and the whole thing has been even many more moons in the making, so I’m thrilled to be able to get started – and humbled and honored by the opportunity to work with such an amazing brand. I don’t know how long this gig will last, and the column doesn’t have an official name yet (please shout out your ideas in the comments – I’ve got a feeling those will be very entertaining!), but we have some great ideas for content, which naturally will be exploring the more sensual sides of wine.
Now, I’ve never featured beautiful nude women on 1WineDude.com (though I’ve come close!), but I suppose you could say that there’s a bit of “spiritual alignment” in my writing style and the serious-but-accessible-and-slightly-irreverent take on the subject of wine that Playboy.com was looking for. To me, it’s a bit like Forbes.com bringing on Jeff Lefevre’s smart, analytical writing style, or how the populist, grounded voice of Vinography’s Alder Yarrow fits in so well with JancisRobinson.com. So you can add one more name to the list of home-grown wine bloggers being tapped by long-standing on-line brands.
There are a few things you probably should know about this Playboy.com gig…
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[ Editor’s note: No, you’re not losing your mind (well, not that I can tell anyway) – the following was originally posted here yesterday, but I was mistakenly a day early in reporting it (and the authors of the press release politely requested that I take it down and re-post today to coincide with the official release, to which I of course agreed immediately). So some of you may, in fact, have read this before. This was just a dumb-ass mistake on my part, and one for which I’ve already apologized profusely to many people and promised copious rounds of beers to them as compensation. Sorry also to you for any confusion this might have caused. Anyway – get back to your drinking. ]
This week, a press release will be going out on the Global Interwebs (I got a sneak peek at it last week) announcing that Alder Yarrow, founder of Vinography.com (which by all accounts was the first English language wine blog ever published) will officially join Team Jancis as a columnist at (the excellent) JancisRobinson.com.
To the tape:
“The choice of Yarrow to help expand Robinson’s coverage of the American wine culture reflects the vibrancy of the wine blogging world, her appreciation of the growing universe of online wine voices and Yarrow’s impressive body of work and unique insights on American wine. Yarrow’s ‘Alder on America’ column will debut at JancisRobinson.com on Wednesday, October 19 when he explores the impact of Robert Parker’s retreat from reviewing California wine and the appointment of Antonio Galloni as the Wine Advocate’s new California correspondent.”
Aside from the fact that it looks like Alder’s first column is covering news that we in America would at this point officially consider “old” (sorry… couldn’t resist…), I’m ecstatic for Alder, who I consider a friend and with whom I confirmed that this is an actual, honest-to-goodness paying gig (I expect to pry more details out of him over several beers the next time I’m on the Left Coast). Given the focus and seriousness with which Alder plies his blogging craft, it’s a natural fit for Jancis’ team, and I see this as a bit of wine-blogging-spiritual-equivalent to another friend of mine, the keenly analytically-minded Jeff Lefevere, taking his talents to Forbes.com. And of course (you knew this was coming), it’s further validation of the future of quality wine writing coming from the best of the cast of characters in the wine blogosphere.
Best of luck on the new gig, Alder!