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.
It seems even 250-year-old Cognac houses want to be like Google these days....
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Last year was tough for The Coca-Cola Co. So staff in Atlanta won't be pleased to read that Pepsi has overtaken Diet Coke as the no. 2 soda brand in the US. ...
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