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I can't speak for the 2004 as I only had the 2000 and the 2003(pass). But I'd give it a couple of years and re-try. This is subtle with lots of terroir and blackberry notes. I just really associated with the wine. *********************** "I have drunk not to the clouding of my reason, but just so much that I can still surely distinguish the syllables with my tongue." Athenaeus |
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DnVD, Have you tried this before or did you buy off the strength of the recent WS review? I love Paso wines but have yet to come by this producer. |
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2005 Joseph Phelps "Innisfree" Cabernet Sauvignon
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I actually didn't buy it, it was a reference to another thread here. I cannot afford that kind of $$$ for a bottle of wine right now. |
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Mimik, I'm glad I reserved judgment 'till last night. It was a way different and better wine last night, on Day 3, than it was on Day 1. My TN is posted here: http://forums.winespectator.com/eve/forums/a/tpc/f/3146091161/m/640105755 |
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Nothing.
I went a little nuts in September, so I've imposed a moritorium on buying for the rest of the year. Unless Garagiste offers up something extremely irresistable (which they do with annoying regularity), I'm done for '08. Now off to battle the cellar defenders!  *********** You never see crazy people walking the streets, screaming about atheism, do you? |
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You and me, both.
And I do have an asterisk on my buying slowdown for Garagiste.... Bressan. When they offer the Bressan, I will not hesitate. |
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 Nuthin'. |
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BAC at 19.70.
"Wine is sunlight held together by water" - Galileo |
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That's a good place to start a core position. Get ready to average down from there.  |
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I'd let the countrywide problems (the company - not the nation ) play out a little first. They have litigation related problems - from consumer fraud to securities fraud (many brought by states or the feds) - in addition to the whole liquidity crunch and their sub prime problems... I'd rather buy at 25 and know that all the bad news is out there, than buy at 19 and find out I missed another 10 bucks in problems.....That said - I was a long term shareholder of BAC until end of 07 (sold for tax purposes). I generally like their model of cross selling products and am bullish since the deposit limits are being lifted. That said - I merely want to see how the litigation related to countrywide and how the CDO, CMO, etc. mess plays out a little more. 20 years down the road your purchases today will probably be seen as visionary. It could however be a little bloody in the short run. Hope it works, G |
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In perspective, GM looked good to a lot of people at 10.
Now???? Another perspective. |
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12 X 2002 Torres Coronas Tempranillo. A tad tired, but still tasty for $3 a bottle.
12 X 2005 Villa Maria Sauv. Blanc. $7,  .-IB PSA: Please report gratuitous trolling/flaming immediately (little triangle at bottom right). |
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I guess you missed this. It was always built in to the price they paid for Countrywide. And BTW, BoA's auction rate securities and Merrill's are settled too and was also built into the price. "Wine is sunlight held together by water" - Galileo |
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5 Mark Ryan Dead Horse
3 Mark Ryan Water Witch 2 Mark Ryan Long Haul |
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Couple of my fav. QPR's:
2007 Saint Cosme CDR 2006 Saint Cosme Gigondas “What is the soup du jour?"...It’s the soup of the day..."Mmmm, that sounds good, I’ll have that” - Lloyd Christmas |
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The $8 billion settlement is only with 11 states. The other states are still litigating with them - and the settlement does not preclude the private litigation against countrywide/BoA that has been ongoing for years for the same issues. I think there is also litigation by the Ohio AG and a few others about discriminatory lending practices that could also materially affect the company. Finally, I have not looked at the recent info, but I believe that there are plenty of cases still pending regarding the countrywide takeover that have not been adjudicated. While BoA and Merril did settle some of the ARC/ARS cases - but only for retail customers with certain restrictions. As I understand the settlement, they do not include business/partnerships/LLCs/trusts/etc. that purchased the ARC/ARS and many of those suits are still pending. While a step in the right direction has been made, the whole litigation cloud has not been removed. G |
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Those states include CA, FL, & AZ where the vast majority of the problems are. The only significant distressed market not included is NV. This group takes care of 90%+ of the problem, and the rest is insignificant from a valuation perspective. Oh, and BAC is up today while the market is down over 300. "Wine is sunlight held together by water" - Galileo |
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I think 90% of the problem is a little overstated - perhaps 50% or 60%. It also does not address the ongoing litigation by private parties, the discriminatory lending practices suits, the countrywide/BAC merger related cases and the securities fraud suits. Also while BAC is up today, it is not up as much as the other banks - i.e. it is lagging its competitors. JPM - up 6%, Wachovia up 23% (flier - b/c of citi announcement), citi - up 6%, etc. Don't get me wrong -if I had to guess in 10 years everyone will be jealous that they did not buy BAC at 19. I just prefer not to take any risk on BAC in the next few months while the last of these issues work themselves out. It could be a rough 5 or 6 years. It could be that all of these things fade away (or become non-material). G |
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you mean like scoring the 02 today for $36.66?
----------------------------- "religion ='s thought disorder" - sigmund freud |
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 Well done. |
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