Vol 3 No 17 Ring in the New Year with Red!

Okay, so it should be champagne but at the prices for the good bubbly TB will pass. IF he was to buy one it would be Billecart-Salmon Brut Rosé , but at $100 plus I’ll wait to be a guest at someone with taste and money’s home. I first had the B-S when Kermit Lynch brought it to California if not the U.S. It is a stunning wine but not at a bargain price anymore.

So, what will TB be drinking New Year’s Eve whilst watching that big ball descend on Times Square? Could be a Cava, yep same methode traditionelle that the Spaniards from Penedes learned and brought back from Champagne when they realized their wine was no good. Note also they brought back the equipment so it is closer than one thinks. It was founded in 1541 My personal favorite is Codorniu, especially the Anna (named after the last living descendant) in opaque bottles, either the Brut or Rosé, and for around $15 – a steal. Last night, after posting this, I tried of all things a Prosecco Spumante Rosé  from Veneto (not Asti!) by Desiderio JEIO, that was an incredible bargain at $15 and in a beautiful bottle as well. The winery, which I had never heard of goes back to 1542 so it is one of the originals. A best buy!

My fav house in Champagne is Roederer, producer of Cristal, which while very good, isn’t worth the hefty price tag to me, but that is personal. I can say this because I had a friend who would only drink Cristal. One night he called and asked us over because he felt like drinking some bubbly. I agreed on one condition: I bring a bottle and we do a blind tasting. Reluctantly he agreed. When we finished tasting the two bottles and removed the bags, he was dumbfounded: he had picked mine…also a Roederer BUT it was Roederer Estate from – sacre bleu! – Anderson Valley, California. I finally consoled him saying he could now buy a dozen or more bottles for the price of one. Not much as far as he was concerned. What is remarkable about Roederer is there is a flintiness that is unmistakable, similar to Chablis. How they did that in their California ‘sparkler’ is beyond TB’s comprehension.

Decades ago my wife and I had been over at Mendocino and driving back stopped at Korbel, which is pretty good for the price but instead of the bottles being hand-turned as in Champagne, they devised a system of huge racks which ‘flip’ from one side to the other trying to reproduce the effect of the riddling method of Champagne, sort of. Korbel fell by the wayside however when the big champagne houses Mumm, Chandon, and a couple more, such as Deutz, with Burgundian winemaker Christian Roguenant who was brought over as winemaker for Maison Deutz (later sold and became Laetitia), and now is winemaker at Baillyana, both of which are in Edna Valley, just east of San Luis Obispo. Through a friend I got to know Christian who is not only a great winemaker but a chef.

After leaving Korbel we went to Napa Valley and visited Schramsberg, made famous by Nixon who served it at a state dinner (and decreed that all wine served at the White House be from California). Nixon being Nixon however, he kept a bottle of Chateau Margaux by his seat at the table and that is what he drank when wine served was red!

Very near to Schramsberg, we stumbled on Hans Kornell, and despite being nobody’s, gave us a personal tour…there was nothing pretentious about Hans. We loved his champagne…oops, can’t call it that today, can we? Especially his Sehr Trocken, or driest of the dry and I still have a bottle of it, long past time to drink but a remembrance of a very nice man. Poor Hans though, he had had to replace his vines to disease and built up a lot of debt doing so, then the economy took a downturn and the bank foreclosed, and he lost everything. There is one bright spot here though: Robert Mondavi. Beloved by some, despised by some, but he died an amazing thing: at auction he bought Hans’ home, and allowed Hans and his family to live in it rent free until he died!

Hans Kornell makes a great segue into TB’s book project. If you haven’t heard it’s a book on wine that isn’t about wine but rather the people who make it. It is their passion that drives them and whether their wine costs $25 or $100 or more they all exhibit the same passion for what they are doing. I had to scale it back from all the countries I have visited and all the people I have met to just the U.S. and Canada. If it is well received, a second book for the rest of the planet will be published. Hopefully the first one will be out by Spring 2018 and the second by yearend.

The book is dedicated to Andre Tschelistcheff and Dr. Konstantin Frank, who made incredible contributions to making California…and New York wines great. These two Russians had incredible passion and influenced so many great winemakers.

Andre had the easier job as vitis vinifera was the vine of choice in California. Dr. Frank had too issues to deal with. First, the cold weather in the Finger Lakes region which the ‘experts’ said was too cold for vinifera vines…he knew they were wrong, having come from a cold climate. Secondly, he had to fight those who relied on the French-American hybrids and if you ever tasted early New York wines you will know why. The key adjective was ‘foxy’ and not in a nice way. Even today, more land is planted to Concord grapes than the rest combined. Hint: Welch’s is located there!

Andre was responsible for training Joseph Heitz, Mike Grgich, and mentored Richard Peterson who was introduced to him by his son, Dimitri, when both worked at Gallo. He also advised Warren Winiarski on when to pick the grapes for the Stags Leap Cabernet that was used in the Judgment of Paris. Note also that Grgich was the winemaker for Chateau Montelena at the time which won the chardonnay class.

It is important to note that the purpose of the Judgment was not to prove American wines better than French but to show they could compete with top French labels. However most of the wines bested the French and in subsequent tastings that gap grew wider.

Others in the book include: Randall Grahm, Jim Clendenon, Bob Lindquist, George Hendry, Dave Rafanelli, the Unti family, Justin Meyer, Vince and Lise Ciolino of Montemaggiore, Bob and Mike Lamborn who had great influence on me and opened so many doors to me.  Lane Tanner, who was discovered and mentored by Andre is a great story in herself.

Anyway, hope you find the book of interest and I will keep you posted on release.

Best Wishes for the New Year a votre sante

TB

(c) Traderbillonwine 2017

 

 

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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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