We speak with Rodney Birrell of the Wine Investment Fund. Between 1998 and 2018, The Liv-ex Fine Wine Investables Index grew by an average of around 10.3% per year. The FTSE stock market only managed an average around 4.4% per year in that time. Gold performed even worse: an average of around 3.4% per year in that time. Take a look at last year. Fine wine held its value during the turmoil of 2018, while stock markets were hit badly. The Dow lost 5.6%. The FTSE 100 fared even worse, losing 12.5%. The key wine indices, by contrast, held firm. The robustness of the value of fine wine shouldn’t come as a surprise. Each vintage gets scarcer each time a bottle is opened and the market (= demand) is growing rapidly year on year. On top of that, as a fine wine matures and improves, its value naturally increases as well. All this and more on this episode of Swallow the Anchor.