#lafite bubble

So... all of those people who speculated on Lafite and other first-growth Bordeaux in the past three years are really not going to be happy about this. But, um, that's why speculating is gambling, not investing. I think we can pretty much conclude that the bubble has completely burst:

First-growth Lafite is being quoted at $8,410 a case on London-based wine exchange Liv-ex, 41 percent below 2010 and 45 percent down from the 2009s. Second-growthCos d’Estournel, its close neighbor, is at $1,680 a case for the latest vintage, 45 percent down from the 2010s and 62 percent below 2009.

Meanwhile, I'm going to continue drinking my $10 rosé and go about my business.