Investing's Not Just Stocks
I've always said that I got my love of investing from my father. If there is any doubt to this claim, well then this should remove it all. Below is an email I got from my father yesterday. Now I'll preface by saying he's my hero in life and we are very close still today. He's 70 years old but you'd think 50 upon meeting him. He's a physician by trade and a renaissance man in that he enjoys a lot in life and he does it all well. This email made me smile from ear to ear. It's verbatim, so don't hold any typos against either one of us:
"Now you think that you are big stuff with investments. Listen to this story: Back in around 1983 or 84 I purchased two bottles of French wine for investment purposes. Both were 1982 vintages, and both were first growths. One was Chateau Lafite Rothschild and the other was Ch Mouton Rothschild. I paid $82 for the first and a little less for the second. They have been safely stored in my wine cellar for 30 years. Well yesterday I happened across them and decided to look them up. I found an auction site in San Francisco that handled fine wines. I found a list of the 1982 Lafite Rothschilds and, now sit down, the average expected price to be realized was (and historically has been) $3,800 per bottle, and about half that for the Mouton. Beat that buddy! Dad"
When I asked him about what he plans to do with the wine, he replied thusly:
"I’m going to sell that wine so fast that it will make your head spin around. Dad"
He then proceeded to prod me for stock ideas for his winnings. Classic. Just classic.