No wine before its dime

Reuters has a story today about two wine investment funds. The Noble Crus Fund returned more than 20% to investors last year, but the Vintage Wine Fund lost 33%. The difference? Noble Cru invests mainly in older French wines from the Burgandy region. Vintage invests primarily in younger wines from Bordeaux. Younger wines swing in price a lot more, and Vintage says it’s also getting whacked by currency fluctuations. I’ll dispense with the obvious analogies to wine and age and instead offer this old quote: “I like best the wine drunk at the cost of others.”