Persistence is a must-have in investments and in life

by Aug 13, 2020News, Thinking outside the bottle0 comments

“The Louvre of wine” – a.k.a. the marvelous cellar that holds the collection of Michel-Jack Chasseuil

“The Louvre of wine” – a.k.a. the marvelous cellar that holds the collection of Michel-Jack Chasseuil

Paulo Pinto

Alti Wine Exchange founding member

Dear reader,

I take a great interest in wine and money – and have spent the last three years working on this innovative project of a fine wine exchange as a way to bridge these passions.

Alti Wine Exchange is now an e-commerce platform that allows people to buy and invest in fine and rare wines as if it was stock investment. Except… it isn’t.

I call it crisis investing: basically buying a rare wine, keeping it in the best conditions in bond, with the intention to sell it at a later stage for a much higher price – because that same wine is age-worthy and has become even more rare.

Few people have made their fortunes this way, but indeed have – and anyone can do it.

French collector Michel-Jack Chasseuil is probably the most famous one. His collection is worth billions. Chinese are said to have offered an undisclosed amount of money – really a lot, I suppose -, but wine has been his passion for the last 50 years and he would not let his precious achievements of a lifetime go away just like that.

* * *

What enables prosperity? Why do some excel while others with equal talent fail to achieve their potential?

Persistence comes first.

Michel-Jack Chasseuil has been diligently curating his private collection, some 40.000 bottles of the greatest vintages on the planet – one of the biggest in the world, that he likes to call the “Louvre of Wine” and which the Prince of Monaco called one of the seven wonders of the world.

Chasseuil holds some beloved Pétrus Pomerol bottles in his cellar (credit: Facebook/M.J. Chasseuil)

Chasseuil holds some beloved Pétrus Pomerol bottles in his cellar (credit: Facebook/M.J. Chasseuil)

What roles do education, culture, and government play in enabling individuals and groups to live fulfilled and prosperous lives?

Not sure Michel-Jack is originally from a modest background – having started as a boilermaker at Daussault and risen through the ranks as an industrial designer to selling airplanes. He has been passionate about wine and has devoured his wages in buying bottles.

So being driven, willing to learn and committed is essential. Money is never an issue.

* * *

So how do you structure society so that it brings out the best in people?

Are you bothered at all with this? I am, and that is the reason I have been talking here about the need for a new monetary system.

Going back to my other passion: money. If you read earlier articles I have been writing here, you will recall I have been alarmed by the fact that interest rates are now zero or below zero in western countries, and in particular in Europe.

When interest rates are negative, it costs nothing to carry debt. And with the excuse of the coronavirus, countries will keep building debt without having to worry with debt service costs, for a while, maybe a long while.

This will end up inevitably with devaluation of money and inflation. Gold is at new record highs against all currencies and this is catching people’s attention like a wake-up call.

Watch out for more volatility if you are an investor. If you are a saver, you will look for something with less volatility, like rare wine. That is why I believe that, probably more important than investing in wine companies, is to invest in the very unique and rare wines that already exist.

Most important: be persistent in the face of any potential shocks and crises. Be patient, committed and willing to learn even when motivation seems to fade.

* * *

Talking about fine and rare wines, we at Alti Wine Exchange have been working very hard on something special: our next IBO (Initial Bottle Offering). It is about a very rare Moscatel from 1919. It is more than just a wine: it is a collector’s item. Very soon we will have an exclusive page for it so you can add yourself to the waiting list.

 

 

More articles by Paulo Pinto:

Featured


Summer is coming – and things really do not look promising

Building a sound strategy for your resources in the face of inflation and worsening living standards has become more crucial than ever


Outside the bottle | Building wealth wisely, change is both need and opportunity

Away from falsely reassuring economic news, seeking alternative financial strategies is inevitable in the face of low interest rates and looming inflation


Outside the bottle | A scale for reasoning and a crisis warning

It takes personal trust to let the next generation run its own course in a world where everything and everyone are being homogenized


Outside the bottle | Luxury is far simpler than what we once thought it was

The pandemic shows that small things that were once taken for granted can simply vanish, in both our economic and social lives


Outside the bottle | On miscommunication and generational mismatches

 


Outside the bottle | A digital euro is coming. We should be worried

 


Outside the bottle | Prosperity is not automatic: a lesson from top wine producers

 


Outside the bottle | A Great Reset to save democracy: rebooting the financial system

 


Outside the bottle | Reseting the monetary regime to achieve true freedom

 


Outside the bottle | Why we need a Great Reset of the financial system

 

Explore More from Our Blog

Would you bring your child to a winery?

DEAR READER, What a pleasure to be back! I admit it: these mailbags are now my favorite point of the week. Even during the contentious back-and-forth, I always enjoy opening my inbox to see words from you all. “Kind” ones, sometimes—but as you know from last week—I...

Our Sommeliers suggested wine

DEAR READER, I must be honest—I expected many more well wishes after posting that old journal entry. Everyone is modest when they say they don’t want well wishes, and so I expected there would be a few of you who saw through my “plea for privacy”. But, I forgive and I...

Because Life Needs Good and Evil

Black and white. Chaos and order. Sinner. Sinless. Life is a constant search for the happy medium, the yin and the yang. It’s as renowned psychologist Jordan B. Peterson explains, “Order is not enough. You can’t just be stable, and secure, and unchanging, because...

Thank you, Lehman Brothers?

On this day, 13 years ago, the world broke out in a panic when Lehman Brothers filed for Ch. 11 bankruptcy. Still the largest bankruptcy filing in US history, it was the climax of the Great Recession of 2007-2009. Subprime mortgages were to blame, lending money to...

Beer vs Wine, a timeless debate…

DEAR READER, Blah blah blah let’s get right to it! Dear Sommelier Ferdinand, You’ve dropped some hints that you look down on beer. Why is this, Sommelier Ferdinand? You have a growing fanbase—surely, you’re aware the effect that your insults have? And before you...

What would you do if you found an expensive wine in a cellar?

DEAR READER, Never in my life have I been happier to pontificate about wine than at my computer desk. In person is stimulating, sure, but they always talk back at some point. My lovely readers, however, only speak when I like! This internet thing has utility!...

The Beginning and The End.

Alas, the sun has crossed the celestial equator from north to south. Summer is now quite uneasy, shifting into fall in the north, while life is springing into action down south. What a beautiful time of the year! When grapes are cut from the vine to create new wine,...

Ever heard of a wine cocktail?

DEAR READER, I hope some of you learned from the reader letter last week [hyperlink to Week Ten post] and checked your attics! You never know how much wine sits above you, waiting to be uncorked and decanted—on someone else’s dime! Dear Sommelier Ferdinand, I have a...

The Future of Wine

We humans are bold if nothing else. Unlike any other species (that we know of), only we have chosen time and again to go boldly where no other has gone before. This holds especially true to the modern European, the first to really “discover” ignorance. Though they...

Could Mozart Make Your Wine More Complex?

We usually do three things when drinking wine: look at it, smell it and taste it. We activate three of our five senses to understand what’s going on in the glass. I propose we go further by incorporating sound and touch. Surely what we’re listening to while...

What on earth is a ‘Wine Decanter’?

DEAR READER, It’s come to my attention that many of you are ill-informed, misinformed, and frankly, uninformed about how wine is to be consumed. Were I only a wine enthusiast, it would be wholly dispiriting. But—wine is my profession, and I’m obligated to recognize...

“What’s My Next Question?” – Benjamin Kaplan

What’s My Next Question? On a random day like today 11 years ago, a legendary Harvard Law professor and lawyer, Benjamin Kaplan, died at 99 years of age. A rich, marked life that left an impact long after his last breathe. Apart from influencing the likes of Ruth...