Monday, May 28, 2007

Parker: "I would not spend a dollar on '06 Futures"

Robert Parker has bluntly reaffirmed his pessimistic view of the U.S. market for 2006 Bordeaux, saying, "I would not spend a dollar on '06 futures."

These remarks, made at the Duquesne Club in Pittsburgh two weeks ago, come on the heels of his prediction earlier this month that "the 'futures' market in the USA will be largely a failure." (A self-fulfilling prophecy, perhaps?)

A weak dollar, combined with large expenditures on the outstanding '05 vintage and the availability of strong buys among the '03 Northern Medocs, all lead Parker to advise against any spending in the '06 en primeur campaign.

Curiously, Parker's latest column for Business Week offers his picks on "Where To Place Your 2006 Bordeaux Bets." He is less blunt for the "Executive Life" crowd than he was at the Duquesne Club, advising, "I wouldn't load up on 2006 futures, as the vintage is good but not great."

Nevertheless, Parker offers up his recommendations for futures worth a gamble if priced below $45: Branaire-Ducru, Malescot St.-Exupéry, Haut-Bailly, Duhart-Milon, Fleur Cardinale, Monbousquet, Smith-Haut-Lafitte and Clos de L'Oratoire.

Anyone care to bet on how many of these wines come in under that price point? (My prediction is three: Duhart-Milon, Fleur Cardinale and Clos de L'Oratoire.)