As we continue to celebrate our 50th anniversary, we have been looking back at the history of the Turrentine Market Update Newsletter for previous analyses that also could apply today. Below is from a 2001 Newsletter that we feel resonates with the current conditions:

A thousand brands have a bright idea, a bright idea to preserve margins. And it’s a bright idea nobody else has thought of. They are all going to sell less but upgrade quality. At the same time, everyone is producing more grapes and more wine. You may wonder, of course, how that’s going to work. Everyone makes more and everyone sells less but, through the magic of modern finance, it all works out. Somehow. The key is that THE OTHER GUY WHO HAS NOT FIGURED OUT THE PROGRAM will buy all of the excess and will sell it in some previously unknown market east of Kurdistan. Apparently, it’s a big secret exactly who THE OTHER GUY is. It is so secret that THE OTHER GUY doesn’t even know who he is. Someone should tell him, and tell him soon, because another harvest is on the way.

The Turrentine Newsletter, March 2023

If you have any questions, please contact Daniel Tugaw at daniel@turrentinebrokerage.com