Vol. 1. No. 13 …a rosé by any other name…

Just got back from an incredible trip. Flew to Florida where we rented a car in Tampa and drove up and along the panhandle, crossed Alabama, and through Mississippi to New Orleans, then up the Mississippi to Minnesota. Fantastic trip (with the added benefit of a great deal on car rentals: from Mid-April to Mid-May you can rent any car from any of the majors for about $10 a day, drive it anywhere so long as it is north – they need to get these cars out of Florida now that the snowbirds have returned home – and drop off at any airport with no additional fee. The taxes are about as much as the car rental. See you can get good info at TB on wine!).

But I digress…I was going to write this post on the wines and wineries we visited along the way, but some friends who own a very nice innovative wine shop (Wine Republic) in nearby Excelsior (on Lake Minnetonka), that features only organic, biodynamic, or sustainable wines, held a tasting of rosés at their shop on Saturday afternoon. I wrote that I wouldn’t be getting home in time to be there and they graciously let me sample some of the TWENTY-FIVE wines from the U.S., Europe and Argentina. “Ugh, rosés you say.” Curb your tongue, knave! These are not the wines that most Americans think of as rosé. A little history:

The biggest California and American winery back in the 1960’s was Paul Masson (remember Orson Welles, “we will sell no wine before its time” – ah, if only that had been true), and most of the wines were cheap, under $2. Good wines sold for less than $5 as late as the early 1970’s! TB can’t remember all the names but there was Chablis (no wonder the French hate us and forced us to stop using names like that and Champagne on …er…crap!), Riesling, Pinot Noir (the lesser quality ones simply said Burgundy), Cabernet Sauvignon – note that only in the mid to late 1960’s did the best producers (Louis Martini, Charles Krug, Robert Mondavi, Beaulieu, and a few others) bother to put the vintage on the label. Rosés were usually of the Crackling Rosé variety – you do know that that is what Neil Diamond was singing about don’t you? Listen to the lyrics and you will understand.

Next came the ‘pop’ wines, made popular mainly by Gallo (who now also produces a premier label), such as Boone’s Farm, Thunderbird, Madría Madría Sangría (created during the grape picker strike and used a Latina saying “my ‘hosband and his oncle’ make this wine” – perhaps the lowest thing the Gallo’s ever did.

From there, we grew up: sweet was ‘out’, subtle wines were ‘in’.  No self-respecting person would drink the pop wines any longer. No siree. But here is the rub: despite great reviews by Robert Parker and other established wine writers, sweet wines were all lumped together. Those included German and Alsatian Rieslings and heaven-forbid Sauternes (due to confusion with California Sauterne – a totally different animal).

But also in the early 1970’s a few guys experimented with one of TB’s favorite wines: Zinfandel, and lo and behold White Zinfandel came into existence (it actually had a slight pink tinge to it since Zin is a red grape with red juice). Robert Lawrence Balzer, the first of the early wine critics, praised this as “being on to something”, which was true because they sold millions of bottles of the stuff. At least it was better than the rest of the lot…actually the only California rosé TB could stomach was a pretty good, inexpensive, Zinfandel Rosé produced by Pedroncelli.

So here we are in the twenty-first century and following the lead of the well-known Tavel Rosé from France, there are a plethora of wonderful rosés as witnessed by having a tasting of 25 of them – five each from five distributors (a representative of each was at the tasting). Now look at this. The price range: $10.99 for a Le Rosé des Acanthes (which TB liked) to $24.99 for an incredible Commanderie de Peyrassol Rosé. The average price was $17.64, but note that thirteen were priced under $16, and three under $13!

Summer is fast approaching. Don’t let preconceived notions stop you from having something refreshing to cool you while you relax on your patio on those hot days. Trust TB, you won’t be disappointed – not one bit because all of these wines which have varying degrees of sweetness (more like tart), finish with something that hits the back of your tongue and throat the way tannin does thus preventing a lingering sweetness in your mouth which might otherwise be cloying. You will probably find this more suitable than the Sauvignon Blanc you might have served. Don’t take TB’s word for it: try some and compare…then you decide!

Once again, good wine is forcing out bad, all over the world and we, the wine lovers are the beneficiaries. Life is too short to drink bad wine.

One last note on this: a few weeks ago there was an article in a column on a wine from Portugal, a red called Portada, a deep red wine exploding with berry flavors (you decide which). No this is not one of the California ‘fruit bombs’ that are 15% or more alcohol. This one weighs in at 12.5% and is thus a very enjoyable wine for even those who are not wine fans. The price? $10-12. The author said if it was from California it would be at least a $30 wine – TB concurs! Having been to Portugal twice and going again in October, trust him, it is not just about Port! Vinho Verde, which used to be poorly made is now on a par with Spanish Albarino’s, and at half to two-thirds the cost.

Start looking at wines from other places around the world recalling that the best ones will be in the range of 30°to 45° latitude – north or south. That is the only area where vitis vinifera, the wine grape thrives.  

The world of wine is getting bigger…and better.

TB

©Copyright 2015 TBOW, all rights reserved.

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traderbill

How did Trader Bill originate? It was conceived by me as a way of providing information summaries of global financial markets so that friends and associates could bring themselves up to speed on events and changing market conditions upon their arrival at work. In addition, it provides information on speakers and economic releases that day with consensus estimates and level of last release so that the reader is prepared to react, or knows how the market might react upon the release of information. Who is Trader Bill? Initially any reference to me was as ‘i’. This is to remove the aura of ego and to suggest that i am but a humble reporter, albeit with 35 years of investment experience. Investments are demanding of ego, however, or one would not feel that he was qualified to manage someone else’s money in the first instance. Therefore i needed an ‘alter-ego’. Like Winchell and Mahoney, Edgar Bergen and Charlie McCarthy and especially Trader Vic and Mai Tai’s! Why Trader Vic? Because he was a likeable man who delivered pleasure to his customers and knew exactly what their desires were. The reason for the alter ego became obvious once I introduced Trader Bill into my commentaries: people started asking what Trader Bill thought. They had never asked me what I thought before, but suddenly they wanted to know what TB thought! Now mind you they KNEW that I was Trader Bill but for some reason he became bigger than life. Maybe it was the small ‘I’? What does Trader Bill try to do?His goal is to educate from his years of experience. Consider that most of the traders and people managing investments weren’t even around in 1987 for the crash! Consider that Graham and Dodd, and even Warren Buffet are not relevant to them, too old hat. Their historical perceptions of markets and fundamentals (earnings, price/earnings ratios, bonds, debt service coverage) are irrelevant in this fast moving world. This is the NEW ECONOMY, or is it? How did your style originate?Years ago i found that i had a knack and talent for writing. In addition, i developed an ability to analyze market news about 15 years ago. It took the Crash of ‘87. Prior to that i was just listening to what others said about the economy. But bond yields had been soaring in ‘87 yet the stock market just kept hitting new highs. That was when i began to learn about markets. i have both a dry and witty sense of humor (some call it inane!). Therefore i attempt to make even the worst news somewhat amusing: whether it is the absurdity of an economic release, or the comments of a CEO. This is trading desk humor (or gallows humor). It isn’t politically correct but it does ease tension. Ironically, it is seeing the light at the end of the tunnel (in the Navy they say: it’s always darkest before it’s pitch black!), that allows you to be more objective in your analysis, as bad as a situation is there will still be a tomorrow! You will see that i practice three-dot journalism, a style made famous by San Francisco reporter Herb Caen, whom i idolized. At least to me it is effective. What is so special about your analysis?Frankly, i don’t know that it is special, but at least it beats “the market closed down today on profit taking.” What i do know is that most of what you read is spat out without considering whether or not it is rational, like the above statement. Is it right? Sometimes yes and sometimes no, and that is the key to what is different about my analysis: it is meant to make you think. Is Dan Rather right or is Trader Bill right? If it causes you to stop and think about it, regardless of whether you agree, i win! Because THAT is my goal…not to have you think i am a guru, got that? Bet you never heard that ANYWHERE before in my business! Instead they want you to think just how smart they are but remember in this business if you are right 60% of the time you ARE a genius! Another thing that is different is when i am wrong on an analysis i will tell you, not hope you forget what i said. So now you have the tools to do what the speculators and hedge funds do: challenge authority, and if you make money it is because YOU did it not me. i was just a tool, your flunky to do the grunt work and let you decide…course you could be wrong too but at least you looked at the big picture. But the goal is also to have fun! This shouldn’t be a business of hushed tones and grim faces. It is a living, breathing thing and nowhere else in the world do you have the odds as much in your favor as here. Just beware of the guy who wants to put his arm around you and tell you he is your friend. So there you have it. I hope you select me as one of your sources for market information. If you do I promise to work my best for your financial success. Trader Bill

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