My portfolio of wines has grown in value but that says little about volatility and the ensuing heartaches and headaches as my clients see their beloved portfolios gyrate. However wine, when matched against a quite volatile 2018 equity market (esp. in the 2H), is a bedrock of stability and consistent returns. And what about against gold?
The liquid is not tied to economic cycles other than euro movements. Prices are tied to supply primarily, as the years go by bottles are drunk. Demand spikes when the wine matures. Of course, these benefits come with a long lock-in period and illiquidity.
