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Tuesday, July 21, 2009
Quick thought on FundamentalsI am on the Cape for the summer hanging out with my mom and dad who are now known
as Nana and Papa. My Dad watches market watch every morning with his toast and coffee. Stock market television
shows add some entertainment value over the Wall Street Journal when you add a little sportscaster pizazz. But the TV
sound bytes often lack meaningful discussion on fundamentals. This reminded me of what is often missing in wine writing,
especially wine reviews and tasting notes.
Fundamentals - adequately describing the how,what, and why behind
the wine in the glass should be better represented in tasting notes than what is currently available to consumers. The
more obvious elements of the wine - color, aroma, alcohol etc...can often times be rendered meaningless without the fundamentals
of how the wine came to be.
If the guy on TV is barking at me to buy Coca Cola because shares are up on news that
their earnings beat market estimates .02 p/s - I would want to know why. Are sales up in Asia, new markets opened, new
product doing well? Are they cooking the books? Does the stock offer value? Is this a trend or
a blip? Likewise - is that richly colored pinot noir a deep garnet with a blue core because of climate conditions?
Press wine? Additives? Is this typical for the region or varietal - or an aberration?
Just a thought..........
9:05 am edt
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