Blog: Bordeaux's Lafite is liquid gold
Chris Mercer | 4 January 2011
A trusty bottle of Lafite would have earned you a better return than a block of solid gold in 2010, according to the Bordeaux fine wine exchange, Live-ex.
The value of the Live-ex Fine Wine 50 index, which charts the value of top wines from Bordeaux's Medoc region across ten different vintages, rose by 57% in 2010 and has nearly doubled in two years.
Bottles of Lafite Rothschild are leading the parade, particularly among a new wave of Asian investors apparently keen to strut their wealth like peacocks on viagra.
Live-ex said last week that its index has put gold in the shade in 2010. The value of the precious metal only rose by 35% last year.
That said, gold remains twice as valuable - at close to GBP900 (US$1,400) per ounce at today's count - and there's not quite the same temptation to consume it.
Some people in India believe alcohol should be more difficult to purchase. Last month, the state of Bihar halted all alcohol sales as its chief minister made good on an election promise. ...
Greetings from Zurich. Here as a guest of Heineken's Amstel brand, I'm due to sit down later today with the group's senior global director for international brands, Walter Drenth....
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I'll admit to being partial to an Aperol Spritz now and again, more usually in the summer months, sitting outside, shades on, slowly turning more golden/rusty....
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