Thank you, Lehman Brothers?

by Oct 2, 2021News0 comments

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 people that were far from solvent. You had young adults buying $100,000+ homes across middle-class America, each with a brand new car and everything else they could want. Pools, vacations, living way outside their means.

It was a great boom.

Until it went bust.

And much of the world felt it. Thus came negative interest rates in the years to follow, economies grappling to recover. This was the last straw for our founders.

Having dedicated their lives to the world of finance, Alti Wine Exchange said ok it’s time to reinvent. We want assets, we want to combine what we love with a type of trading that makes sense, based on finite resources, limited bottles of the world’s best wines.

Will it make you filthy rich? You can definitely earn a return, but this is a type of business built on passion. Worst case scenario, you get a rare bottle of wine to drink that you paid much less than the market price for, a bottle that is perfectly preserved in Bordeaux until you say GO!

In the infamously simple words of Hemingway:

“Wine is one of the most civilized things in the world and one of the most natural things of the world that has been brought to the greatest perfection, and it offers a greater range for enjoyment and appreciation than, possibly, any other purely sensory thing.”

And please, don’t let a bump in history like September 15, 2008 stop you. A date throughout any year is bound for ups and downs.

Do not forget that on a day like today in 1616, the first free public school in Europe opened to residents in Frascati, Italy. In 1835, Darwin arrived at the Galapagos. In 1928, Fleming discovered penicillin. Game changers to life as we know it!

Just as 2008 was a year of hardship, it incited great minds to reinvent. We turned to new ideas, new ways of investing.

Alti Wine Exchange is the first of its kind, a blockchain-based platform that provides an alternative asset investment: rare wines. The good life.

Want to know more? Just ask!

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...

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...

Wine that Makes You Look Up

Wines that Make You Look Up Can you imagine having a device that magnifies your view and never thinking to look up, never pointing it toward the sky? Until August 25, 1609, nobody had. Enter Galileo Galilee, the man who changed the way we see and interpret all that is...