Investors Don’t See Bubble While Drunk on Lafite
August 24, 2009
One of the strangest developments in financial markets this year is the “Lafite effect.” It offers a valuable lesson about investing.
This financial crisis has walloped just about everything. It has even pushed down prices for fine wine. The Vintage Wine Fund, which invests “in fine wine with an objective of steady, high capital growth,” declined 33 percent in 2008.