As you probably know, in 1959 we pioneered the Bordeaux futures business in the United States. Since then we have offered almost every vintage produced in Bordeaux with the exception of years we deemed unnecessary to purchase early.

Our No. 1 focus has always been what is best for our clients, and it has always paid off. For the most part that has prompted us to be a cheerleader for buying Bordeaux wines that have provided extreme pleasure and profit for all involved. We are big fans of Bordeaux and their great wines.

In the past decade Bordeaux has seen significant globalization that by nature is more than ever subject to global forces such as: currencies, foreign stock markets, regulation, politics, economies of the world, etc. This year, Americans face a weak dollar buying Bordeaux priced in expensive Euros. It's a tricky vintage in that "Points, Price and Pedigree", our general criteria, are only part of the picture in assessing whether to buy Bordeaux futures.

As mentioned in my book "Investing In Liquid Assets" the only reason to buy futures is to secure a hard-to-get wine at the lowest price, but in this year it may not be the case. Here's why:

1. The dollar may strengthen against the Euro making 2010 Bordeaux less expensive later, possibly even before they are delivered to the US market in 2013.

2. Back-to-back great vintages 2009 & 2010 may decrease the rabid demand for the great 2010 vintage, as we saw with 1989 & 1990 Bordeaux. Believe it or not, the 1990s weren't gobbled up when they were released since most were bought-out on 1989s. It's true!

3. Some Bordeaux Chateaux have priced their 2010's at 30+% more than 2009 (50+% if you factor currency). Can the market absorb all of this, and will the wine still be available at the same price two years from now?

There are so many moving parts, that we're taking a look-see approach. While we are going to offer this doubtlessly TERRIFIC 2010 vintage, we will place special focus on securing the best wines at the best prices for our clients as we have for 77 years in a row!

There will be some must-own wines for sure, so we will proceed with caution and while we are guided by our love and passion for Bordeaux, we will also use economic sense to make sure real value is provided to you, our treasured clients.