During a tour of the Balvenie distillery about a decade ago, I innocently posed a question to the host about the viscosity of single malt scotch. Fully expecting the standard lecture about the angel’s share, I was taken aback when he directed an associate to go grab the bottle of the brand’s 50 year old product that he had stored…under his desk.Fast forward to 2016, when the only bottle of Balvenie 50 year old single malt in Canada is being offered at the Fairmont Pacific Rim hotel — only one of 131 bottles available worldwide. Listed at $45,000 CAD by The BC Liquor Store, the bottle will be available to the hotel’s favored patrons in a one ounce pour for $2,600 CAD (in a collector’s edition specially numbered Baccarat glass, according to the Lobby Lounge’s website.)
The Balvenie ‘Fifty’ is one of only 131 bottles in the world. (Photo from CNW Group/William Grant & Sons Ltd.)
*Seriously, look at this daily S&P 500 chart via Jesse's Café Américain:The world of single malt scotch has been an interesting one in the past few years, as consumer demographics continue to emerge and shift and the market responds accordingly. Although a push towards brown liquors has definitely been prevalent, much of the consumer focus has been centered around bourbon, perhaps due to high profile endorsements of younger chefs for brands such as Pappy Van Winkle. (Such is the mythos around the hard-to-obtain cult bourbon that even the news that bottles that had been stolen and possibly contaminated were to be destroyed was deemed “tragic”.) According to the Kentucky Distiller’s Association, the number of bourbon barrels aging in warehouses hit 5.7 million in 2014, a 40-year high in terms of production....MORE
Click to enlarge, I'll wait.
First off, as we've pointed out elsewhere, between May and the first week of December the index crossed the 2100 level, up or down, something like 43 times.
Next, look at the structure from the mid-August collapse to today. What the heck is that?
I'll tell you what it is, it's the barkeep saying gentlemen, the bar is open, that's what it is.
I would expect to see some significant substance abuse problems on Wall Street this quarter.