Got a Big Lump Sum to Invest? Watch Out for Vintage Risk
An occupational hazard of working in a profession like investing is that you often find yourself analyzing everyday life situations as if they were investments. I experienced this when my wife and I visited Napa Valley this fall and had the opportunity to taste several extraordinary wines -- wines normally well beyond our price range. During our visit, I decided to conduct a mini-survey of the various vineyards we visited. My question: Is the quality of a wine pre-determined by the quality of a grape, or is the winemaking process most responsible for creating an exceptional wine?
My very scientific study resulted in a consensus: Winemakers say the quality of the grape dictates the potential quality of
