Now I'm an investor
Scotch is going up and diesel is coming down...
Article in The Pensacola News today...
Rare decades-old Scotch could give investors a terrible hangover. Over the past five years prices have shot up 170 percent, according to an index of auctions and sales by the Scotland-based firm Whisky Highland. It’s among the investments that have grown more alluring as interest rates have fallen. The buyers aren’t just tycoons with tweed blazers, empty snifters and money to burn. Auctions are fetching bids from Chinese nationals, while firms such as Whisky Highland offer guidelines for investing. There’s “a perception that this is a good area of investment at a time when more traditional investments are producing low rates of return,” says Martin Green, a whiskey specialist for the auction house Bonhams.
What inflates bubbles beyond rationality is greed. Most buyers acquire Scotch for other reasons: “the mystical allure of the taste,” the thrill of the chase, the pursuit of status. “One of the motives for Chinese buyers is social aspiration," he says.
Article here: Blame the Fed for stirring up a cauldron of bubbles? | Pensacola News Journal | pnj.com