Vol 3 No 11 The Best Wine in the World!!!

Let’s face it there is way too much wine in the world…way too much to consume and consumption is declining in Europe due to driving laws, flat in U.S. being again replaced by beer…due to those new craft breweries not Bud or PBR.

The wine industry too follows fads: who can forget the Sideways effect on Pinot Noir and Merlot – both on demand (price) and store placement (Merlot went from eye level to the bottom shelf, replaced by Pinot Noir…and not all of it good…as was the majority of Merlot). Of course there is the rating ‘fad’ (?), such as this scenario:

Guy in tasting room: This wine is awful!

Salesperson: Really??? Parker gave it a 90!

Guy: I’ll take two cases!

You laugh but that is what happens. As TB has stressed here many times: you are your own best critic! …and guess what? That guy will probably serve it at a dinner to his friends, and guess what? Most of them won’t like it! TRUST YOUR PALETTE, it is the best wine critic in the world…for you…and will likely be in line with most people.

Most wine is drunk within hours of being purchased…not even long enough for the wine to get rested and refreshed, especially if it is a red! How about laying it down for a week or two (at least), oh, and if you can pace yourself, when you serve it, keep a little to try the next night…most likely it will taste better if it is good wine! Far too many times I have loved a wine then found out it was only going to get better…patience is a good thing, especially with wine.

There is a wine blog: thewinegourd

You should do yourself a favor and check it out. Pretty interesting and sensible: unless you KNOW what a wine critic looks for in a wine (i.e. Parker and high tannins), and that meshes with what you like, look for tasting ratings of groups. As Wine Gourd shows graphically, you want the one that more tasters like…if you want to please the most people at say a dinner you are hosting (also note: just because you bring a bottle of wine to a dinner, unless requested that is up to the host…in other words it is simply a gift), go for the broad ratings. Here is an excerpt of a letter to a local wine maker I wrote to today on the subject:

As a winemaker you want to appeal to the broadest base of buyers for two reasons: one you want the buyer to like it; secondly, when that person pours it you want the majority of those at the table to like it.
When I was a wine snob I bought Parker 90+ wines until I realized I didn’t like these high tannin monsters that you have to hold decades to enjoy, and noted guests reactions and wine left in glasses to learn the lesson. Also, the vast majority of wines, sadly, are drunk within a week of purchase which fails to allow the wines to develop or even recover from their journey.
I see Parker as a paradox: he improved the quality of wines globally; he has contributed to the homogenization of wines trying to weed out terroir which I firmly believe in…as does my friend, Randall Grahm and other Rhone Rangers.
I also subscribe to Mike Veseth’s Wine Economist blog. If not familiar, Mike saw Sideways and was shocked to see the effect on Pinot Noir and Merlot prices and placement on shelves. You might want to look at back issues of The Wine Gourd fro further study.
This winemaker, discussed in an earlier post, won two golds in their respective classes at the San Francisco Chronicle’s Wine Tasting in January. No mean feat! As mentioned in the post (Vol. 3 No 9), there were 60 – count them sixty – judges, meaning these wines appealed to the broadest range of wine professionals.
By the way, both of those wines were in the $25 class…so you don’t have to pay an arm and a leg for quality.
Twenty-eight years ago TB read a book that changed his outlook on wine, Kermit Lynch’s Adventures on the Wine Route…kind of a bible for Rhone Ranger, Burgundy, and Loire oenophiles. Couldn’t put my hands on it the other day and was angry with myself since it changed my view of wine and introduced me to so many wines I have come to enjoy over the years (decades?). So I went on Amazon and lo and behold there is a 25th Anniversary Edition, published in 2013, and I bought it in hardbound edition for less than the original list price too. Here are three things he did and didn’t do that make this edition the one to buy:
1. He added an epilogue rather than make changes to the original text…it is relatively short if you already read the first edition,
2. He tells what happened to some of the personalities in the first edition,
3. He lists the 25 favorite wines he has ever tasted, including the vintage (i.e a 1929 Chateau Y’Quem.
That’s all for today, folks…live, love, enjoy good wine…life is too short to drink plonk.
TB
©2017, traderbillonwine.com
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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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