Thursday, August 9, 2012

Long Supertuscan: Short Superdry

super © fintag

News comments:
With so much whining in the world, it is time to talk about proper wining.

Wine.

Now not all is well in the wine world. The Chinese who have in last few years hoovered up the first and second growths from those well known label vineyards appear to have lost their appetite and prices are falling faster than Facebook (or soon to be Manchester United).

However, some of the cheap and cheerful stuff like the Clos Fourtet '09 and Calon Segur is slaughtering the Laffites and the Latours which like the Carruades are down 20% ytd versus a healthy 14% uplift for the 100 points plonk. Of course those in the know are not touching the French stuff because the Tuscans like Omellaia are so much more profitable despite tasting like a flat macdonalds coca cola. Italy is the new France.

I am currently in Bordeaux enjoying the 2009s and with the bad weather of 2012 not putting down any orders. Odd years tend to be the best anyway. The falling Euro is making life easier but prices are still way too high although the 5 year Liv-Ex 50 is nearing 30% against the S&P's -10%. I so much prefer grapes to Apples anyway.

So if we are going long supertuscans what are we shorting?

Well Manchester United has to be the joke IPO (you get no dividends or voting rights!) but Superdry is still a stock I just don't get. Consumers are fickle and its passed its best buy date.

Not that I am allowed to make recommendations so best ignore that and enjoy some wine instead.

Today's shorts:
Glazier (independent)

Italy and Hitler wines (dailymail)

Supertuscan ready to be engulfed with lava (reuters)

What do I know about retail? ((femalefirst))

Today's longs:
Spain's begging bowl is out (reuters)

Gossip:
Superdry America to build pipeline to the north pole for water.



1 comments:

BrianSJ said...

1er cru Chablis etc now reduced at Lidl.
Am waiting for the right moment to open a 1943 bottle of Greek wine. Can't be far off now.