Fine Wine Investment (December 2011)

S&P500 dropped 17% from year highest of 1363.61 (April-2011) to lowest at 1131.42(September-2011). While Liv-ex 100 was down from all time high of 364.69 (June-2011) and reached 297.96 ended Nov 2011, with a loss of 18.3%. Liv-ex 50 showed similar tend to that of Liv-ex 100, down 22.2% ended 13^th December 2011.

While some of the economists or politicians trying to reference wine index as a forecast to the world economy in general, obviously they did not do their homework. When both major drops in Liv-ex lags the major stock market by approximately two months, it is rather amusing listening to those hypocrites and pretentious trying to justified their actions by their ignorance.

In addition, the recent drop of Liv-ex occurs not only due to the instability of world economy and market speculations. I believe the newly added 2008 vintage contributed greatly to the recent fluctuation. The brave ones who bought the 08 during the financial crisis at the lowest prices were the smart bunch. Hence, they would be more than happy to sell their Lafite at €1,000 (or less), while the Chateau price is now over €1,600. As long as these €1,000 are still floating around the market (this applies to other grand cru as well), it would be difficult for the index trying to gain back their position in short run.

While the wine index continues to slash, the stock market seems to leveled out a little. If history has the tendency to repeat itself, then data suggests that stock market has room to go down again. On the other hand, it would not be surprised to see the stock dips given the vulnerable European market and their mountain high debts; in combination to political instability with next year’s US president election and Chinese power shift.

I am not going to say “I told you so” because that’s useless, lame and rather showing off. I think the important thing is that fine wine investment should be viewed as one of the many investment options; also, it should be regarded as a type of very long term investment. And the good thing is, when bonds and stock became just a piece of paper, a bottle of wine can be consumed with pleasure.

(Original data from Liv-ex and yahoo finance, for personal use only)

午後的和諧

2011.11.02 (晴)．一個尋常卻風和日麗的午後，一本”The Wine Opus”，一瓶　Chateau Puygueraud 2004的微醺，忍不住打了個小吨．可能是因為佩嘉洛飽滿的黑梅果香與黑巧克力的苦甜殘留在口腔裡關係，居然作夢也在與周公喝酒～ＸＤ哈哈哈！

一陣熟悉卻稍微惱人的電話鈴聲畫破了夢境；頗能感受臥龍先生＂大夢誰先覺，平生我自知．草堂春睡足，窗外日遲遲．＂當下的感受，但拜訪之人卻非劉豫州！

定睛一看，今天西元的年月日，若是在2011與11月的中間放一面鏡子就可以反射另外一半，即左右完美的對稱．葡萄酒、威士忌、高粱、白蘭地，我所追求的始終是一種完美的平衡；而早在西元前6世紀畢達哥希拉學派與古希臘數學家歐多克索斯就已經一步步的把比例性、藝術性、和諧性數據化，後稱之為黃金比例．中國人幾千年一直遵從的儒家＂中庸＂講究的也是一種人生的平衡，而非單指是不偏不倚平平凡凡．

其實誰說平凡就一定等於平庸！酒是如此，人何嘗不是如此！

Whisky Tasting Record - August/2011

Yamazaki, 1984, Mizunara & Sherry Cask, 48%.

Ripened fruits (plums and apricot) with a touch of cinnamon. Deep and fairly matured with a balance of sweetness and sourness but a bit heavy on tannin (Good).

Blackadder, (Glenlossie), 20 Y.O., 1988/2009, Cask #1356, 52.4%.

Malty, syrupy and vanilla; like chewing a muesli bar. Standard before dinner drink (Good).

Blackadder, (Balmenach), 17 Y.O., 1990/2007, Cask #2505, 57.4%.

Outstanding aromas with clean, confortable grassy freshness and a hint of floral note. Fairly sweet on the palate along with melon and banana flavours (Recommended).

Blackadder, (Royal Lochnagar), 27 Y.O., 1981/2008, Cask #53, 57.4%.

Has the soul of classic highland malt and the smell of barley malt. In accompany was almond syrup, mix citrus fruits and hint of spices (Good).

Blackadder, (Glenlivet), 33 Y.O., 1977/2011, Cask #13149, 53%.

Very distinctive floral notes including Scotland’s indigenous heather flower. Structure is beautiful with honey dew and a touch of sour cherry. Floral tone dominated throughout the tasting with some lemon cheese cake at the end (Recommended).

Blackadder, (Laphroaig), 13 Y.O., 1998/2011, Cask #700237, 56.4%.

Typical Laphroaig with extra smoky leather, medicinal and burnt flower. A bit of soapiness at the very end, fairly balanced and was not over powered by the peat (Good).

SMWS 29.91, (Laphroaig), 12 Y.O., 1998/2011, 63.8%.

Very heavy burnt hair cream and polish oil, felt like walking into a barber shop. Backed up back sherry wood and its tannin, dry but not rough (Good).

The Macphail’s Collection, (Glenrothes), 39 Y.O., 1969/2008, 43%.

Sweet caramel and dry berry fruits mixing with citrus fruits, embraced by oak woodiness. Focused with fairy long aftertaste (Recommended).

.

The Macphail’s Collection, (Glenrothes), 30 Y.O., 43%.

Classic Glenrothes style with floral and fruity sweetness. Easy and smooth with some cocoa bitterness in aftertaste, long and simple (Good).

Blackadder, (Glenrothes), 22 Y.O., 1988/2010, Cask #5373, 52.5%

Round, oily and full in texture with mandarin and lemon candy notes. Fairly sweet and concentrated, and a hint of smoke and peat? (Good).

Fine Wine Investment (Part 2/2 - Bordeaux Super Seconds and the market)

By the end of August 2011, the soaring super second prices have gained an average of 23% since the end of 2010. More, the market favorite third growth Chateau Palmer, fourth growth Chateau Beychevelle (known to the Chinese as “the Dragon boat”) and fifth growth supernova Chateau Pontet Canet have all provided good amount of returns. However, this is not a short term investment supporting evidence but vice versa instead. Chateau Palmer is probably one of the a few 1855 Grand Crus who still gained value in the most recent week; recorded +15.8% of its 2009 vintage.

Noted earlier in my facebook on the 9^th August (right after the slash of the stock market), the alignment of Liv-ex 100 index with three major US stock indices have suggested that the market is unstable and the short term risk of fine wine investment has increased dramatically. The alignment chart also indicated some correlation between the two indices (refer to my facebook). Also stated on 13^th September (in Chinese), I believe another 20-30% fall (based on macro economics/world economy and short term overly valued prices) would provide a better entering point for the investors. Ended 11^th September, Liv-ex 100 has dropped 6.35% during the past month; given a total of 11.53% lost since the year highest in June.

“Everyone needs some SWAG” (published in Investment Week) by Joe Roseman, former economist at Moore Capital Management suggested that investors should add or at least consider adding these physical assets into their portfolio (SWAG = silver, wine, art and gold). The argument was that these physical assets have outperformed all other equities in the past decade, whilst having eight advantageous/distinctive characters such as no incumbent debt associated with the assets, scarcity and longevity. I agree the argument on the basis of portfolio diversification reduces idiosyncratic risk however, diversification can not reduce the systematic risk. The easiest way to explain it is that no one itself has the win win  situation.

I always believe that cash is a very important part of investment portfolio, especially in time like now when the world market is extremely unstable. Angry U.S. unemployee walk on the street, at least 90 multi-million companies and firms from Wen Zhou (China) have gone bankrupted due to informal credit loans and unsolved Greek debt crisis... and the list goes on. My suggestion is to have 50-70% of all investment allocation in cash (I personally raised it to 90% two months ago) depending on personal risk adversity. In conclusion, fine wine investment is for the long term genuine investors instead of short term speculators. Fine wine investor should have strong sense of longevity, otherwise, short selling options in the equity market is probably more suitable for you.


(original data from Liv-ex.com, Yahoo Finance - for personal use only)

Fine Wine Investment (Part 1/2 - The Bordeaux First Growths)

The 2010 En Premier prices have been starting to release from the end of April and the market was as hot as it can be. All the hot items were sold out within an hour or two; merchants have been trying to wire-in their connections just to get hold of any extra cases possible (11/April - Liv-ex 100 = 359; Liv-ex 50 = 439). After almost two months of incubation with a final kick of Vinexpo 2011 in Bordeaux, the first growths and the top notches finally released their rocket high prices. Ch. Lafite-Rothschild with their first trench at €600 but only a hand full of people can enjoy the price along with tones of Ch. Rieussac (not to despite that it is a very good Sauternes). Most of the merchants would be happy to spend €1,080 for a bottle of Ch. Lafite-Rothschild, €600 for Ch. Margaux or Ch. Mouton-Rothschild and €780 for Ch. Latour; and that’s of course, if you have the allocations.

Not far from their releases, statistics indicated that some of the top 2010 Bordeaux prices have slide 15% by the end of July 19^th. A case of 12 bottle Lafite would have cost almost €14,000 at year higest and is now costing €12,700 (3^rd Oct; beware of Liv-ex 2.5% transaction fee); some French necogiants are now even offering less than €900 a bottle in package term. Other most sort after Chateaus such as Ch. Lynch-Bages and Ch. Pontet Canet have dropped 11.5% and 17% respectively (11/June - Liv-ex 100: 364.69; Liv-ex 50: 445.40)

At the same time, the physical assets side of the Fine wine investment isn’t doing that well also. Claret Chip, the toppest rated Bordeaux first growths only, dropped over 13% from year highest; Live-ex 50 and 100 down approximately 10% from year highest. It was argued that because Lafite is being heavily weighted and its drop would greatly traumatize these indices; but no one seems to care the issue when these indices were shooting through the roof. The worst was that Emperor Parker downgraded 2008 Bordeaux vintage by 1.18 on average (Most Impacted: Chateau Margaux down from 95-97 to 94, Latour from 96-98 to 95+, Petrus from 98-100 to 97, Le Pin from 94-96 to 92 and Leoville-Las Cases from 95-97+ to 93+) and noticed that the 2008 vintages have just been added to the major indices recently. Of course, the people who bought the 08 from En Premier would not worry about the current price fluctuation due to their bravery in 2009. For an example (and also the most extreme one), they have bought Lafite at €4,000 per case of 12 bottles (at 2009) when even the 2011 year lowest was trading at around €10,000 a case, why would anyone of them worry? (Chateau Mouton-Rothschild showed similar price trend with an average of 26% lost since the beginning of the year 2011). Further, the 98 vintage declined by approximately 10%, 2004 in significant amount, 2003 and 2005 by around 8% each; not to mentioned, the Christie’s Poor performance in HK auction where Lafite took an average of 13~15% punch.

Needless to say, Ch. Lafite-Rothschild is overly heat in the recent decade and is now the time to be rationally adjusted by the market. I do believe (in investment term)that it is still either the King or Queen of all wines; but in the short term, the bubble created by the Chinese needs to be busted, Carruades de Lafite also. As for the Lafite fans, the 2003 vintage or a under €10,000 case 2008 would probably be the best shield to doge the bullet. For the first growth in general, the 2003 would probably be the best selection "relative" to the other most recent decade vintages. 2006 is also a good option but the general WA score is at 95.6, which will have its own difficulties to price adjustment in the future; however, the market will do its own justice.

(original sources from Liv-ex.com - for personal use only)

Whisky Tasting Record - Whisky Live Taipei/2011

Yamazaki, No Age Statement, Sherry Cask 2011, 48%.

Very clean and vibrant sherry note yet complex, even out runs some of high age profile sherry oak whisky. Some lovely juicy plums and prunes in the after taste (Good). NT$4,500

Yamazaki, No Age Statement, Puncheon Cask 2011, 48%.

Young with detectable apricots and ripened pineapple; round and clean in the mouth (Good). NT$2,500

Hibiki, 30 Y.O., Bottle #41503, 43%.

An outstanding dram, its complex aromas was absolutely stunning. It sets the milestone for all luxury blended whisky to match and redefined my definition of blended whisky (A must have before you died). NT$21,000

Yamazaki, 25 Y.O., 43%.

It posted an image of beautiful 40-45 year old Japanese lady wearing Channel No.5 in my head, very feminine in structure and aromas. Deep classic sherry oak but less some subtleness for the age given (Good). NT$25,000

Duncan Taylor, (Glenlivet), 39 Y.O., 1970/2010, Cask #2007, 50.9%.

Straight and clean with standard Glenlivet notes such as heather flower, apple, pear, sweet and fruity. Expect more layers and complexity from a 39 year old (Good). NT$8,400

Duncan Taylor, (Glen Grant), 34 Y.O., 1974/2009, 51.5%.

Soft and easy with cereal and wet soil/earthy notes, short aftertaste (Standard).

Duncan Taylor, (Bowmore), 26 Y.O., 1982/2009, Cask #85064, 54.9%.

Very fruity with orange flesh freshness and zest dryness, fruity perfume (almost like Moschino – I Love Love), a hint of peat and roasted rubber (Good).

SMWS 27.93, (Springbank), Cask #128, 2000, 51.1%.

Smoke tar, coffee bean and a lot of minerals. Classic Springbank structure in the background with extra dashes of tar and robustness (Good).

Whisky Tasting Record - July/2011

Duncan Taylor, Black Bull, 12 Y.O., 50%.

An outstanding blended with 50% malt whisky and 50% grain whisky. Distinctive but not heavy sherry tone, balance and smooth even at 50% alcohol strength. A good daily drink at a good price (Good). NT$950

Glencadam, Rare Selection, 1979/2010, 31 Y.O., Cask No#5467, 55.3% (C/S), Taiwan Limited.

Flavorsome at start with typical sherry notes (Raisin, X’mas fruit cake); however, the expectation of lingering after taste given the high age profile did not exist (Good). NT$8,888

Longrow, 10 Y.O., 55.6% (C/S), Takaji Wood Finish.

Full and intense with strong tannic dryness from oak barrel; oily and chewy sweetness with lengthy aftertaste. An enjoyable classic Campbeltown whisky with a bit of a twist from the wood finish (Recommended). NT$2,300

Laphroaig, 10 Y.O., 56.3% (C/S), Batch 2, EU/USA Edition.

Another good Laphroaig cask strength with mixture and well balanced peat and citrus fruits (in particular, grape fruit). Strength of aftertaste can be improved (Good). NT$2,500

Ardbeg, Supernova Stellar Release, 2009 First Edition, 58.9% (C/S).

Big, peaty and intense; image of BBQ with sense of smoky charcoal sizzling steak and sausages. Typical Ardbeg rough manly peat lingers in the mouth (Recommended). NT$3,200

Auchentoshan, 1999, 9 Y.O., 58.2% (C/S), Bordeaux Wine Cask Matured.

An interesting experience with St. Julien wine cask finish, but expected a bit more winey from this dram. Obvious citrus fruits and layers of woodiness at end. 3,600 bottles produced and released at the French National holiday, the Bastille Day (Good). NT$2,000

Auchentoshan, 1975, 35 Y.O., 46.9%.

Flavors were dominated by light and creamy butterscotch with vanilla. It is very gentle and smooth yet complex; however, the expectancy for a high age profile dram is always higher than mediocre (Good). NT$16,850

Nikka Yoichi, No Age Statement, 43%, Distillery Edition.

Light and easy to drink with some lemon grass note and fair balanced. Price for quality (Standard). NT$500

(Standard)-(Good)-(Recommended)-(Exceptional)-(A must have before you die)

秋風起，蟹腳癢

雖說農曆還不到九月份，但是中秋過完沒多久就已經感受到一絲涼意．想到秋天就不得不想到秋蟹，雖說當紅的陽澄湖大閘蟹有著幾近爆炸性的濃郁口感，但我還是鍾愛台灣處女蟳那柔順和諧的風味．而秋蟹料理的首選不外乎是看似最簡單卻極易出錯的”清蒸”，要能蒸到剛好透而不老可真得憑著爐火純青的功夫．

近年來，台灣飲食文化中”餐酒”的部分越來越受到重視；尤其是在西方豐富多變的酒食觀念衝擊下，中華文化中餐酒搭配的智慧也慢慢的得到了肯定．因此，想到秋蟹的美味就不得不提到黃酒；性寒的螃蟹吃了容易傷胃，而溫補的黃酒則能去寒活血以致身體不會為寒所傷．黃酒系列中我最喜歡的是陳紹，那股米糧發酵後的微酸在經過窖藏後變得更加沉穩．更精彩的是當蟹黃蟹肉的餘味還在口腔環繞的時候，一口溫過的十年陳紹所交織出來的溫順安詳．

話說中國會稽鑒湖一帶的紹興酒現在是越釀越好，而價錢也是逐步翻升；知名商家如古越龍山甚至出產標示60年年份的頂級黃酒．日本人愛喝紹興酒是眾所皆知的，早些年前日本人曾造訪浙江紹興為要學取紹興酒的製作方法；但因日本水質的不同讓他們最終未能成功．反觀台灣埔里酒廠，釀酒的水源來自於享譽”天下第一泉”的愛蘭甘泉；其水源自於中央山脈地下的河流且水質甜美．據說在日據時代時這水只能用來釀製進貢給天皇的”萬壽酒”．台酒的玉泉十年窖藏陳紹與玉泉罈裝特級陳年紹興都是不錯的選擇；再者，其價格實惠且取得容易．

另外值得一提的是9~10月號國際中文版的品醇客(Decanter)的封面故事－”台式經典海鮮餐酒搭配”，裡面其中的一道菜色則是喜宴的常客－紅蟳米糕．由五名國內業界的翹楚評比，最能讓這道菜增添色彩的有：西班牙的陳年Rioja、澳洲Adelaide Hill產區的Sauvignon Blanc與同區的Shiraz．倘若菜單上單只有螃蟹的話，一瓶Dry Riesling或是Chablis也都會是不錯的搭菜選擇．

台灣最佳法國侍酒師決賽

由法國食品協會(SOPEXA)主辦的2011台灣最佳法國侍酒師日前在台北市的花園大酒店展開了激烈的決賽．來自於台灣各大頂級餐飲業以及葡萄酒商的六位決賽者從二十多名初賽者脫穎而出．主辦單位慎重地邀請到前法國侍酒師協會主席(也是1992年侍酒師大師得主) Jean-Pascal Pauber先生，法國食品協會亞洲區總裁 Jean-Charles Crouin先生以及台灣侍酒師協會理事長洪昌維先生等多位國內外業界知名人士擔任評審．比賽的內容包含有：香檳侍酒專業度，葡萄酒與烈酒盲飲，紅葡萄酒侍酒專業度，餐廳酒單校正與改錯以及葡萄酒專業常識應用題．給予答題的時間並不充裕，只有2~6分鐘不等．題目的目的在於測試侍酒師的專業度以及臨場的應變能力，而更重要的則是要考驗其侍者從容不迫與優雅的態度．

在比賽的過程中不難看出每位參賽者緊張的心情，我們台下的觀眾數度為參賽者捏了把冷汗．再者，雖然說語言的隔閡實在不是一朝一夕可以養成，但是自信的表達絕對可以彌補不精確的發音；而答非所問也成了緊張乘上語言所衍生的產物．當然，參賽者的認真與努力是無可厚非的；可是難道我們台灣的文化與環境下就只能訓練出最好的＂技術人員＂嗎？當談到各國產區與酒評風味的專業至細枝末節的程度我們都可以應對如流且深奧精闢，但問到有關酒國的歷史文化人文素養與生活的時候我們卻常常只能吱嗚其詞或是很＂程式化＂的答復．

俗話說的好，為官三代才懂得穿衣吃飯．雖說早在漢朝就有葡萄酒釀製的文獻，並在唐朝時期有從吐魯番經絲路傳到中國本土的葡萄酒經商紀載；但畢竟葡萄酒不是中華文化的主軸，也因此在文化素養發展上沒有得到相對的提升．而在經過了二戰的摧殘與重建與70至80年代的經濟起飛後，我們這一代很有福氣的接上了這個機會．尤其是看到這次的參賽者都很年輕，平均年齡只有33歲而最年輕的僅26歲；相信葡萄酒以及侍酒師的文化在台灣有著很大的潛力與動力．

(原始資料來自於SOPEXA)

Fine Wine Investment – Over reacted or rational adjustment?

The recent instability of world economy caused by the Greek Debt is no longer a news headline. It has now been agreed by most of the economists that Euro 340 Billion credit default is only a matter of when. Hinted by the Fine Wine index (Liv-ex), the world economy seems to be on the edge of a second recession, or is it?

Liv-ex 50 has reached its year high at 28th June at 445.56 and has just breached the 400 mark today (21st Sept), with an almost 9% plunge in only three months’ time. Live-ex 100 dropped by almost 9.5% since July, and even the top scoring Bordeaux First Growths (Claret Chip Index) has decreased almost 9% in the past five months. Given the uncertainties of the world economy along with the non-progressive governments and greedy politicians, it would be difficult to convince any investors that it is a good buy-in point now.

The risk for the short term fine wine investment (between 1-3 years) is now relatively high. All major Liv-ex indices have just turned downhill from their historical highest, the Euro zone are now in the middle of their own financial crisis, USA trying to recovered their own aftermath but only by injecting themselves with endless newly printed Franklins. Given the historical data from the 2008 financial crisis, I predicted that Liv-ex still has another 20-30% down fall potentials in the year to come at latest.

It is true that Bordeaux can only produce a minute amount of Grand Crus a year and the yield for 2010 vintage has decreased by about 30%; furthermore, the older vintages will only be consumed and there would not be another year 1982. However, we have to assume that the fake replica do not existed, which we all know is impossible. The Grand Crus are now being traded like most of the commodity (e.g. gold) with transparency and market prices, where the release prices are determined by all those Chateau big shots who mostly lives in their Paris palaces.

It is also true that the demand from Chinese and the Indians is another good support for the market prices, but if anyone who can buy a case of 2010 Chateau Lafite at Euro 12,000, why would they pay Euro 14,000? The currency exchange also favors the dollar (or the non-Euro) holders. Euro/US traded at 1.36 in the middle of September this year, which dropped almost 9% from the year highest (1.494). The three short-term moving averages clustered and suggested that the future trend in the next quarter to come is downward or maintaining the level at best.

Euro zone economy is already on the edge, blurry 2012 market forecast, US dollars everywhere, dropped in Euro, plunge in short term Liv-ex indices, overly heated vintage 2010 release prices, soaring Chateau Lafite prices. I suggest that the short-term investors to lower their allocation and inventory and raise their cash level. Or perhaps look into vintage 2003 and 2005 because some of premiums are still under-valued. Of course, if one who is buying the fine wine for his or her own consumptions in the next twenty years to fifty years to come, then it is only the matter of picking what you desire, but make sure you covered the buy-in price for the next 3-5 years because it would be unpleasant to have the market turbulence ruining the pleasure of collection.

(original statistics: liv-ex.com, cnyes.com.tw - for personal use only)

寧靜，孤獨，釋放

雖然不是故意，但時間就是這麼的會捉弄凡夫俗子．Susan去參加大學同學婚禮，老爸老媽在羅東，朋友在紐西蘭看橄欖球世界盃，其他人… 應該都在用煤碳烤肉吧～哈！月圓人團圓的兔子節，兩個小時孤獨的自由別有一番風味．一個人騎在士林天母的大街上晃；老天對我們不錯，稍帶涼意的風和薄雲的天空，空氣中盡是烤肉醬與絲絲柚子果肉與皮酸甜帶苦的香氣．

嘴饞，私藏酒窖，雨聲街．空氣太安靜了，雖然已經是五歲的Wharfedale Diamond 9.3 +AMC的擴大機，但是音色還是那麼的精準甜美．田馥甄的＂My Love＂與＂還是要幸福＂，心情與味蕾先是催促著我的手去緊緊的握住Laphroaig 10 y.o. cask strength Batch 2；當＂還是要幸福＂節奏響起的時候再溫暖的去擁抱Remy Martin XO Excellence．原來如此，心細於過去才懂得如何珍惜未來；泥煤的初味下潛藏的是麥芽焦糖的甜．香甜沉穩的干邑卻躲著那容易被遺忘的丹寧苦澀；複雜交錯的幸福與分手的苦澀最後還是選擇了給予祝福．

該走了，Susan在等我了，首都客運的藍色大巴在等著我們．夜晚之初的微醺，緊繃糾結的心總算得到了釋放！

台灣新世代的威士忌市場

Whisky Live Taipei 2011剛剛熱熱鬧鬧的落幕了．為期兩天的展覽湧入了12,000多人次，這數字不僅較去年成長了五成，更創造了超過三千萬的成交金額．這次展覽讓有兩個現象讓我感到很有趣：參展者平均年齡明顯的下降了，且女性烈酒愛好者的比例大幅增加．據大會統計，男女參展比例為6：4；意味著烈酒不再單只是男士的特權，也透漏出可觀的潛藏商機．

相信近年來女性主權逐漸的成熟，以及六七年級生年輕社會＂輕熟女哲學＂當道，對於品味與生活質感的追求成了被信奉的王道之一．在台灣時尚潮流高速汰換率的環境下，很快的，精品的賞析與貴婦下午茶的高雅已經被我們駕馭的爐火純青．而在渴望更進一步提升人生品味的催化下，極具歷史地位與自我風格的生命之水恰巧滿足了這些條件．在多變的威士忌世界裡，每個人都可以找到讓自己味蕾開心的那瓶酒．可能你挑的是一瓶蘇格登12年，讓人覺得你很親切且香甜可愛；你也可能挑的是一瓶Duncan Taylor Caol Ila 26 yo 1982/2009 (55.9%, Duncan Taylor, Rare Auld, cask #2741)，讓人覺得你很特別很有個性；甚至你在不同的場合或是不同的心情下選擇了不同的威士忌，它已儼然成了你的最佳代言人．

有時候我在想，為什麼很多流行會退燒？就拿甜點來說好了，我記得葡式蛋塔狂熱退燒後取代的是大排長龍的甜甜圈，而門庭若市的Mr. Donuts也不再像往日那麼的風光了．我相信除了我們汰舊換新與嘗鮮心態的作祟下，最致命的致命傷則是產品缺少不斷創新與多元化的要素．反觀威士忌，光是威士忌蒸餾場的數量就不知凡幾（且產品風格差異性大），且單一間酒廠或廠商的產品少說也有四五種（如：Johnnie Walker的紅，黑，綠，金，藍，尊豪，尊爵；一般單一純麥酒廠的12年，15年，18年，21或25年，30年），再加上每年推層出新的瓶裝酒酒廠；數千上萬種商品等著我們去探索．這，嘗得完數得盡嗎？

當然，商品本身除了要能維持新鮮感，不斷的創造以及維持潮流是必須的．而我近來發現烈酒的廣告數量在各個媒體管道可以用＂遽增＂兩個字來形容．除了以往的電視廣告以外，現在也延伸到了各大報章雜誌（尤其是商業周刊）與大型看板．這些烈酒巨擎則極力碩造威士忌是高貴與品味的象徵，卻不願透漏它在歷史之初是蘇格蘭農民的飲料．其實這也無妨，畢竟能夠在歷史的洪流下經得起淬鍊而繼續流傳且進化的產物，絕對單的起世人給予的價值與肯定．在廣告創作方面我很佩服Johnnie Walker，他們的廣告拍得一支比一支好；一個國際的大品牌能細膩的融入了台灣人的感動與驕傲（王建民，魏導…），成功的並牢牢地抓住我們台灣人每一個人的心．

若是當一項產物已經成為了某件事或地位的代名詞的時候，它就不單單只是在銷售數字上有傲人的成績，而是已經融入了這個社會與每個人的生活．久而久之，還會進一步的演變成一種文化．就像當Google穩固了它搜尋引擎的王者之姿時，連牛津英文字典都承認了它不可動搖的地位．那威士忌在台灣年輕一代的生活中呢？在我們對於生命之水追求若渴的萌芽時代，不知道有誰能精準地掌握這股潮流與商機並脫穎而出成為威士忌的代名詞？

Bordeaux - April 2011 (Part1/5)

Surprise only comes about when expectation does not exist, so was my Bordeaux trip. Though it came with great prices, but as a consequentialist, the result was rewarding. It took us almost twenty seven hours to land our foot on the Bordeaux soil, and that eight hours wait in the Paris Charles de Gaulle International Airport was not the most entertaining thing to do five am in the morning; however, the next twelve days of exquisite wine culture baptism have generously reimbursed my tiredness.

Bordeaux city, home to 250,000 people, is well known for its name in the wine industry. More than just the liquid gold in the glass, what amazes me was the long lived culture carried in this city. Though the two world wars occurred in the early last century have ruin most of the European countries, but Bordeaux has preserved some of the most ancient architectures

An interesting impression to me was that the town seems to be built by rocks instead of steel and concrete. The roads we walked on, the no taller than four stores apartments, commercial buildings, little aisles and corners, were all made of huge solid creamy coloured rocks. Late Baroque style apartments and structures is main stream in town; decorated by cast iron made fences, heavy wooden doors and finely sculptured walls, no wonder why only masterpiece can be prevailed from the rigorous succession of fashion.

Our Bordeaux food journey started with a perfectly baked French stick, a piece of generous size goose liver pate, a dozen fresh rock oysters and a bottle of chilled E. Guigal Cotes Du Rhone Blanc 2008. It was easy going early dinner in our service apartment with comforting breeze through the windows. A few chats like the old friend, a couple of light Cuban cigars after the meal and a touch of French Armagnac rounded up the night tremendously.

Bordeaux here we come~!!

注定的邂逅?

月初在法國的一場奇遇，讓我更加深了＂單一純麥絕非王道＂的信念。2010 En Primeur為主軸的行程，衍伸出了一場絕妙的威士忌悸動。Michel Cuvreur Whisky，一個神秘陌生的名子；四角復古瓶身與簡潔的標籤卻瞬間抓住了我的視線。仔細一看，生產地卻夾雜著蘇格蘭與歐洲，這讓我不禁納悶又好奇這威士忌的故事與來由。

酒心的來源

Michel Couvreur是一位勃根地的老先生，在歐洲的酒業中是個傳奇性的人物；他雖然在蘇格蘭沒有自己的蒸餾廠，卻跟蘇格蘭人有著良好的關係以及在當地足夠的名氣。正因如此，Michel老先生能夠長期並穩定的跟蘇格蘭的兩間酒廠購買最高品質的蒸餾酒心；其中一間為位處高地的Glengoyne，另一間則是落座在奧克尼島的Meldrum House。

得天獨厚的熟成環境
Michel Couvreur Whisky與眾不同的步驟，就是把這些購買來的酒心運送至法國後，再以老練的傳統功法及技術釀製。在此我不禁納悶，何必多此一舉千里條條的送酒到法國陳釀，況且不能打上＂Product of Scotland＂的字樣不是更不利於產品的行銷嗎？

基於老先生對於威士忌品質的要求，亦是為純釀注入家鄉的文化，Michel 心目中最佳的威士忌熟成環境不是老舊的蘇格蘭廠房，也不是美式的先進倉儲，而是一個位於勃根地Beaune地區50公尺深的天然地洞。洞穴不只全年陰涼而且濕度均衡。

百年獨家的雪莉桶
除了得天獨厚的熟成環境，Michel老先生還擁有西班牙雪莉酒廠深厚的人脈；並與多間擁有百年歷史的Oroloso，Pedro　Ximénez與Palomino雪莉酒廠主人有著深厚的交情。西班牙生產雪莉酒的廠商何其多，但是能與這幾間百年老店購買最高級雪莉桶的，Michel老先生卻是目前唯一的一位。他本人也曾經說過＂要釀出最好的威士忌，10%取決於麥芽與蒸餾工法，90%取決於橡木桶的優劣＂

精挑細琢的每個步驟
從挑選，釀製，熟成到裝瓶的過程更是一點都不馬虎。Michel老先生在調和勾對的步驟更是一絲不苟，想像的出每一瓶威士忌中一定注入很多老先生的個性與堅持。Michel Couvreur Whisky酒廠每年產量約150,000-300,000瓶，不僅瓶瓶威士忌透過手工蠟封，讓我特別感動的是每張標籤上的簽名都是他一筆一畫的真跡。

日本新聞的採訪
起初我對這個幾乎帶玄的故事是半信半疑，直到觀賞了一部幾年前日本去採訪Michel Couvreur Whisky的紀錄片之後，我就再不疑有它！順帶一提，日本是亞洲現在唯一有進口Michel Couvreur Whisky的國家。更有趣的是，Michel Couvreur Whisky有出1.5L Magnum規格的威士忌。

經銷商也很大方的開了目前九款產品的試飲酒給我們嘗試，品質以及其獨特性讓我們兩人都為之驚豔，由其是雪莉桶的風味以及明顯的杏仁片味道讓我們無法忘懷。Michel Couvreur Whisky的種類可說是相當齊全，從grain, blended malt, single malt, cask strength到single cask都一應俱全。

Grain Whisky-Unique (44%, OB)
使用特殊比例的發芽與未發芽穀物做為蒸餾原料。在橡木桶熟成四年後調和，並使用威士忌礦泉水調至44%的特殊絕佳酒精濃度。

品飲紀錄：金黃的麥稈色；不刺鼻的碘味中隱約的帶有香草與杏仁香；酒味柔順乾淨卻不失驚艷。


Couvreur's Clearach (43%, OB)
Clearach在蘇格蘭文的原意是＂不超過三年的威士忌＂。在蘇格蘭法令中為陳年三年的威士忌不可掛＂Scottish Whisky＂的字樣，Michel Couvreur威士忌因熟成於法國勃根地因此不受此限制；Michel以他最得意的年輕作品對蘇格蘭威士忌＂Clearah＂一字致敬。使用來自於蘇格蘭酒廠蒸餾的酒心，熟成於最原始的陳年西班牙雪莉桶，蘇格蘭的礦泉水做最後風味的調配。

品飲紀錄：深深的金黃色；香氣充斥著葡萄乾，杏仁片與紅茶葉；酒為複雜並帶有多重辛香料的味道，雪莉帶來溫暖的口感卻一點都不過於沉重。

Intravagan'za Clearch (50%, OB, CS)
基本上就是Couvreur’s Clearach的原酒 (Natural Strength)

品飲紀錄：深金黃中透著琥珀色；帶有杏仁片，蜂蜜以及木桶味；酒體飽滿集中，口感如奶油般的柔順並帶有些些的西洋梨與隱約的煙燻味。

Overaged Malt Whisky (43%, OB)
挑選12至27年不同年份的蘇格蘭單一麥做為基酒，調和後運送至勃根地的地窖內裝入雪莉桶二次陳釀，顧名＂Overaged＂。不經過冷凝過濾

品飲紀錄：琥珀帶有絲許米黃色；特殊的乾燥花香，香草口味的菸草與杏仁片；香甜的乾果充斥著口腔，高雅又細緻。

Overaged Malt Whisky (53%, OB, CS)
酒香與酒味與43%相類似但是酒體更濃厚壯碩。

Pale Single-Single Malt (45%, OB)
使用Oloroso與Fino雪莉桶，並熟成至少12年。

品飲紀錄：淺金色；石楠花，杏桃與西洋梨；入口帶著水果香甜而後冒出些橘皮的苦味，後味轉乾(從雪莉桶而來的乾澀)。

Fleeting Single Cask-K (45%, OB)
延續的單桶系列(意思有點像Aberlour的A'Bunadh，只是不是CS但是是single cask)．目前出到英文數字的K，其蒸餾年份為1998年；每桶皆具獨特的風味。

品飲紀錄：琥珀色；可可豆夾雜淡淡的橡木桶香氣，蜂蜜；口感柔和舒服，核果和葡萄乾且頗具複雜的層次。

Special Vatting (45%, OB)
雖然酒標並無斗大的年份字樣，卻藏有無限的驚喜。Special Vatting顧名思義是使用大橡木桶(Vat)去調和不同年份之威士忌；特殊的是用來調和的單一麥是來自三個不同年份的單桶威士忌(Single Cask)。三個年份包括了12，14，22年，並有絕大部分(超過50%)是高年份的威士忌。

品飲紀錄：深深的琥珀色；我覺得Special Vatting是Michel Couvreur’s系列裡面最具複雜性的酒。年輕的12年帶來的碘與杏仁片香氣，成熟的22年極具雪莉桶(Oloroso)的特色，葡萄乾與濃郁的乾果；14年就像是一座把老青兩代做了完美結合的橋梁。酒味極具層次與複雜性，酒體的深度令人嘆為觀止，厚卻不沉重。尾韻有些許皮革與菸草的味道，讓我不禁點了一根上好濃厚的古巴雪茄

Blossoming Auld Sherried (45%, OB)
Pedro Ximenez重雪莉+單一桶．以維多利亞時代的威士忌風味為基礎，打造出百年前的黃金時代．Michel Couvreur的最高傑作。

品飲紀錄：深琥珀，接近紅寶石色；陳香的雪莉桶味，香草，乾果與些許花香；也許是45%的酒精濃度使酒體入喉時如涓絲般，卻不失層次與和諧．雪莉的香甜在舌尖跳動，厚實且帶了絲絲麥芽香的喉韻讓我忍不住又喝了一口。