{"id":7217,"date":"2011-01-15T09:54:58","date_gmt":"2011-01-15T13:54:58","guid":{"rendered":"http:\/\/quotulatiousness.ca\/blog\/?p=7217"},"modified":"2011-01-15T11:59:30","modified_gmt":"2011-01-15T15:59:30","slug":"fine-wine-as-an-investment","status":"publish","type":"post","link":"https:\/\/quotulatiousness.ca\/blog\/2011\/01\/15\/fine-wine-as-an-investment\/","title":{"rendered":"Fine wine as an investment"},"content":{"rendered":"<p>While I personally think wine is a terrible choice for an investment vehicle, I&#8217;m at odds with a lot of people <font color=\"red\"><strike>with more money than sense<\/strike><\/font> who choose to diversify their investments to include fine wine. However, it may not be the <a href=\"http:\/\/www.economist.com\/blogs\/democracyinamerica\/2011\/01\/wine_and_money\" target=\"_blank\">best kind of diversification<\/a>:<\/p>\n<blockquote>\n<p>The search for safe investments and risk hedging has apparently led some in recent years to start investing in fine wines. &#8220;In the past, one of the attractions of fine wine as an asset was its non-correlation with mainstream financial markets,&#8221; wrote the <em>Financial Times<\/em>&#8216; John Stimfig in 2009. &#8220;This provided investors with valuable portfolio diversification.&#8221; What could be less closely linked to the Fed funds rate than whether or not it was a good year for Bordeaux? But now the <em>FT<\/em> reports that a new paper by two IMF economists, Serhan Cevik and Tahsin Saadi Sedik, says that if this were ever true, it&#8217;s not anymore. Fine wine prices are just like oil, they find: they go up or down depending on how the rest of the economy is doing.<\/p>\n<\/blockquote>\n","protected":false},"excerpt":{"rendered":"<p>While I personally think wine is a terrible choice for an investment vehicle, I&#8217;m at odds with a lot of people with more money than sense who choose to diversify their investments to include fine wine. However, it may not be the best kind of diversification: The search for safe investments and risk hedging has [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"jetpack_post_was_ever_published":false,"_jetpack_newsletter_access":"","_jetpack_dont_email_post_to_subs":false,"_jetpack_newsletter_tier_id":0,"_jetpack_memberships_contains_paywalled_content":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[25,131],"tags":[641,571],"class_list":["post-7217","post","type-post","status-publish","format-standard","hentry","category-economics","category-wine","tag-imf","tag-investment"],"jetpack_featured_media_url":"","jetpack_shortlink":"https:\/\/wp.me\/p2hpV6-1Sp","jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/quotulatiousness.ca\/blog\/wp-json\/wp\/v2\/posts\/7217","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/quotulatiousness.ca\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/quotulatiousness.ca\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/quotulatiousness.ca\/blog\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/quotulatiousness.ca\/blog\/wp-json\/wp\/v2\/comments?post=7217"}],"version-history":[{"count":3,"href":"https:\/\/quotulatiousness.ca\/blog\/wp-json\/wp\/v2\/posts\/7217\/revisions"}],"predecessor-version":[{"id":7220,"href":"https:\/\/quotulatiousness.ca\/blog\/wp-json\/wp\/v2\/posts\/7217\/revisions\/7220"}],"wp:attachment":[{"href":"https:\/\/quotulatiousness.ca\/blog\/wp-json\/wp\/v2\/media?parent=7217"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/quotulatiousness.ca\/blog\/wp-json\/wp\/v2\/categories?post=7217"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/quotulatiousness.ca\/blog\/wp-json\/wp\/v2\/tags?post=7217"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}