Fine wine is often sold as a stable, inflation-proof, low-volatility asset. But the data—and the research—tell a different story.
In this episode, I speak with Dr Gertjan Verdickt, finance professor at the University of Auckland and co-author of The Passion Portfolio, about what really drives returns in the wine market.
We cover:
Why fine wine behaves more like a corporate bond than a luxury good
How most investors misread volatility, risk, and pricing
What’s behind the current downturn in wine markets—and why it may be an opportunity
And how cognitive bias, liquidity constraints, and misplaced trust shape investor decisions
This conversation is for anyone who wants to understand the fine wine market more clearly—whether you're investing, collecting, or simply trying to cut through the noise of this downturn. I’ve written about some of these topics before (links below), but it was refreshing to go deeper in this new format.
If you enjoyed it, hit the heart button and let me know who I should speak to next—either in the comments or just reply to this email.
Thank you,
– Sara
Support ITMFW
Love the free edition? A paid subscription helps keep it open to all—and unlocks exclusive content for you. Or simply share it with someone who needs to hear this.
Share this post