thoughts on investing in fine wines or other alternative assets?

>>1403489

they have negative carry because of the storage cost, and wind up being correlated with the chinese stock market, because insecure chinese new money is who is the end buyer for markers of prestige.

the baseline on pretty much any asset you "collect" rather than just buy: only do it if you're interested in the asset for personal reasons. unless you're an ultra-high networth individual who's bored or something.

collect the art, you personally like. collect wines, if you're into drinking good wines. collect vintage cars, if you really like vintage cars. collect coins if you're into numismatics.

collecting something for the sake of investment and returns is doomed to fail. you'll be making bad calls, because you're not really interested in the asset. you'll just see your money trickle away on storage, instead of seeing the enjoyment you get out of your collection.

tl;dr: unless you literally have money to throw away, only collect what suits your personal preferences.