Vol 4 No 4 Where in the hell is Temecula?

We are visiting the West Coast and staying in Orange County. One day we went with friends to Santa Barbara which has some great tasting rooms: Au Bon Climat, Santa Barbara Winery, Zaca Mesa and several more. It was disheartening on the way up to see the fire damage but Santa Barbara was as quaint and beautiful as ever.

I love Au Bon Climat and tasted their premium wines which were all great. I have visited the winery several times and never cease to be impressed by both Jim Clendendon and his partner, Bob Lindquist. The old saying that opposites attract is true here on many levels., and those differences may well be the key to their relationship. Their winery sits at the edge of the famed Bien Nacido vineyard.

Jim is a Rhone Ranger and for the most part doesn’t stray much west of Burgundy. He loves pinot noir and it shows in all he produces and also makes great chardonnay. In addition to ABC, ranked as the number four of 101 best wineries in America. he also produces Clendenon Family Vineyards. Under that label he makes two of the few, and best, Nebbiolo’s outside of Piemonte, Italy but also other artisan wines such as Aligote, Tocai Friulano, a Mondeuse Rose from Bien Nacido, Viognier, Sauvignon Blanc, Gewurtztraminer, Petit Verdot, and a wonderful Grenache, a Syrah/Viognier blend,and of course two Pinot Noir’s. I have never had an ABC pinot that disappointed and I can’t say that about many labels.

Bob’s focus is on southern Rhone wines, especially syrah, but also wonderful Marsanne, Rousanne, Viognier, and blends of them. The Clendendon Family label  and the Verdad consists of Albarino, Granacha, Graciano, Rose, a pinot noir and a cabernet sauvignon, and Tempranillo.

Bob is famous for his Qupe label of Rhone style wines as well as Lindquist Family Vineyards which he produces with his wife, Sawyer; He has also added Verdad which produces great Spanish wines.

Yesterday, we went with some other friends to Temecula, as I wanted to see, and taste for myself, these wines. It was a great counterpoint to the Santa Barbara County wines just discussed.

Temecula is a small town and one you had to pass through on the old U.S. 395 which ran from San Diego to Spokane. Later the town and all others were bypassed by the freeway which is now I-15. Like all of southern California the growth has been incredible and it has been exhibited in the nearly forty(!) wineries with all but two of them clustered tdo the east of the interstate. The first one was Callaway, developed by the golf club company of the same name but was later sold to the Lin family. Originally, the focus was on chardonnay but since the change they have branched into both reds and whites.

We visited two others, Wilson Creek, and Thornton which are considered two of the top one in the area, along with Keyways. We had good wines at both but with all of these wineries in about a six square mile area, it is hard to differentiate. For the most part, the wines lacked the richness of the key California wine locales and the prices reflected the cost of creating a winery today and most of these serve as wedding venues, etc.

So here is the problem: the low end wines started in the high $20’s, and the reds ran from $45 to $75 and even $100 a bottle, so for TB the value simply wasn’t there. Note also that when a winery becomes a destination resort with few exceptions it is the wine that suffers. We had lunch at PUBlic House in old Temecula and I noted that the wine list did not include even one Temecula wine…the price may well have been a factor considering the price for wines from other regions of California on the wine list.

TB has written before on Karen MacNeil’s, The Wine Bible, now in its second edition (and now available as an e-book, which TB strongly recommends for travel. One of the reviews of the first edition complained of the omission of Temecula wines in the tomb. Well, she omitted it in the second edition also, and it was published just two years ago.

So TB’s verdict is IF you are in Southern California and have a craving to visit a winery it is worth the 1-1/2 hour drive from anywhere south of Los Angeles but if you are north of there, go to Santa Barbara, San Luis Obispo, and if you have time, Paso Robles.

I mean no offense at the owners of the Temecula wineries, but these are my conclusions after visiting some of the best the area has to offer.

Have a great day!

TB

(c) traderbillonwine.com 2018

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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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