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Monday, June 30, 2008
An Amazing Charity the Central Asia Institute
Saturday, June 28, 2008
SINGLE MALT WHISKEY RATINGS-FROM MALT MADNESS
SINGLE MALT WHISKEY RATINGS
CLOSE TO PERFECTION –90 POINTS
97 - Glendronach 25yo 1968/1993 (43%, OB, 100% Sherry)
97 - Saint Magdalene 19yo 1979/1998 (63.8%, UD Rare Malts)
97 - Springbank 12yo 100 Proof (57.1%,
96 - Ardbeg 25yo 1975/2000 (50%, DL OMC, 702 Bts., Btl. October)
96 - Ardbeg 1976/2002 (53.1%, OB, C#2390, Feis Isle 2002)
96 - Bowmore 1965 Full Strength (50%, OB, Bottled 1980's)
96 - Glenfarclas 25yo (43%, OB, Frattina Import, Bottled +/-1979)
96 - Laphroaig 31yo 1974/2005 (49.7%,
95 - Aberlour-Glenlivet 8yo (50%,
95 - Adelphi 1953/2003 'No Name' (54.3%, Adelphi, C#1668)
95 - Ardbeg 28yo 1967/1995 (53.2%, Signatory, Dark Oloroso, C#574)
95 - Ardbeg 29yo 1973/2002 (51.4%, DL Platinum, 137 Bts.)
95 - Brora 31yo 1972/2003 (49.3%, DL Platinum, 221 Bts.)
95 - Glenfarclas 1969/2007 (56,2%,
95 - Glen Garioch 29yo 1968 (57.7%, OB, C#7, Bottled +/- 1997)
95 - Lagavulin 16yo 'White Horse' (43%,
95 - Macallan 'Coilltean' 1992/2004 (55%, Samaroli, C#8518, 420 Bts.)
95 - Port Ellen 21yo 1982/2004 (50%, DL OMC, REF414, Sherry cask)
94 - Ardbeg 24yo 1975/2000 (50%, DL OMC, 713 Bts.)
94 - Ardbeg 27yo 1973/2000 (50%, DL OMC, 240 Bts.)
94 - Brora 22yo 1972/1995 (58.7%, UD Rare Malts)
94 - Brora 29yo 1972/2001 (59.5%, DL Platinum II, 240 Bts.)
94 - Brora 30yo '2004' (56.6%,
94 - Glen Garioch 1971 (59.6%, Samaroli, 2280 Bts., +/- 1988, 75cl)
94 - Glen Grant 1969/2004 (46%,
94 -
94 -
94 - Lagavulin 12yo (43%, OB, cream label, Cinoco, 1979 rotation, 75cl)
94 - Lagavulin 16yo 'White Horse' (43%, OB, Bottled +/- 1993, 100cl)
94 - Laphroaig 10yo Cask Strength (57.3%, OB, Green stripe, +/- 2002)
94 - Laphroaig 27yo 1980/2007 (57.4%, OB, 5 Oloroso Casks)
94 - Port Ellen 23yo 1979/2003 (46%, Wilson & Morgan, C#6769)
93 - Ardbeg 1974 'Provenance' (55.6%, OB, Btl. 18/11/1997, Europe)
93 - Ardbeg 28yo 1967/1995 (53.7%, Signatory, Pale Oloroso, C#575)
93 - Ardbeg 28yo 1972/2000 (50.1%, DL / Alambic
93 - Ardbeg 28yo 1972/2001 (49.5%, DL OMC, 222 Bts.)
93 - Ardbeg 30yo 1967/1997 (50.3%, Signatory, C#1141, 510 Bts.)
93 - Benriach 37yo 1968/2006 (52%,
93 - Bowmore 'Black' 1964/1993 (50%,
93 - Brora 32yo 1970/2002 (58.4%, DL Platinum III, 297 Bts.)
93 - Glenfarclas 15yo (46%,
93 - Glen Grant 36yo 1970/2006 (53,2%, Bl'adder, C#7216, 173 Bts.)
93 - Glenlivet 1971/2003 (55%, Berry Bros, C#6447)
93 - Highland Park 17yo 'No vintage' (43%, OB, James Grant, 1970's)
93 - Highland Park 24yo 1980/2004 (58%, OB / Park Avenue, C#7366)
93 - Lagavulin 16yo 'White Horse' (43%, OB, Bottled +/- 1995, 70cl)
93 - Laphroaig 10yo Cask Strength (55.7%, OB, Red Stripe, +/- 2005)
93 - Ledaig 30yo 1974/2005 (48.7%, SigV, Sherry C#3223, 208 Bts.)
93 - Miltonduff 1966/1990 (61.4%, Antica Casa Marchesi Spinola, 75cl)
93 - Port Charlotte 2001/2005 (61.4%, Gordon Homer, C#R23, 39 Bts.)
93 - Port Ellen 22yo 1978/2000 (60.5%, UD Rare Malts)
93 - Port Ellen 22yo 1982/2004 (61.1%, DL / PLOWED, 264 Bts.)
93 - Port Ellen 23yo 1983/2007 (56.7%, DL Platinum for Whisky Fair)
93 - Suntory Yamazaki 1984/2005 (56%, OB,
93 - Talisker 20yo 1981/2002 (62%,
93 - Tomintoul 37yo 1966/2003 (52.8%, DL Plat., Rum Finish, 201 Bts.)
92 - Aberfeldy 25yo 1975/2001 (57.0%, Cadenhead's, 228 Bts.)
92 - Adelphi 15yo 1991/2006 'Breath of Speyside' (60.2%, C#5642)
92 - Ardbeg 6yo 1998/2005 (56.2%, SMWS, 33.57, Sherry gorda)
92 - Ardbeg 17yo (40%,
92 - Ardbeg 1966/1987 (46%, Moon 'The Birds', C#2443, 264 Bts.)
92 - Ardbeg 21yo 'Committee' (56.3%,
92 - Ardbeg 29yo 1972/2001 'Ardbeggedon' (48.4%, DL for PLOWED)
92 - Ardbeg 30yo 1967/1997 (52.2%, Signatory, C#1138, 586 Bts.)
92 - Ardbeg 1972/2004 (45.3%, OB for
92 - Benriach 36yo 1968/2005 (46%,
92 - Bowmore 22yo 1965 (43%, The Prestonfield, C#47)
92 - Braes of Glenlivet 15yo 1979/1995 (60.0%, Signatory, C#16040)
92 - Brora 30yo 1972/2003 'Broraggeddon' (50.8.%, DL, 201 Bts.)
92 - Dalmore 12yo (43%, OB, Bottled +/- 1977, 75cl)
92 - Glenfarclas 38yo 1966/2004 'Nectar' (42,3%, WMag, C#6461)
92 - Glen Garioch 21yo 1965 (43%, OB, Bottled +/- 1986)
92 - Glengoyne 18yo 1989/2007 'Billy's Choice' (54,1%, OB, C#1202)
92 - Glengoyne 19yo 1986/2005 'Ewan's Choice' (51.5%, OB, C#441)
92 - Glengoyne 21yo 1985/2006 (53%, OB SC)
92 - Glengoyne 37yo 1967/2005 (47.6%, OB, Sherry, C#975, 246 Bts.)
92 - Glen Grant 1958/2006 (40%, G&M licensed bottling)
92 -
92 - Inchgower 24yo 1980/2005 (60.4%, Adelphi, C#14152)
92 - Isle of Jura 5yo 1999/2004 (60.6%, OB for TWE, C#19)
92 - Lagavulin 16yo 'White Horse' (43%, OB, +/- 1998, 70cl)
92 - Lochside 35yo 1966/2002 (51.3%, Premier Malt, C#7541)
92 - Longmorn-Glenlivet 1971/1999 (57.8%, Scott's Selection)
92 - Longmorn 1973/2006 (54%, G&M Cask, Cask #3650)
92 - Longrow 1987/2000 (45%, Samaroli, C#123)
92 - Longmorn 18yo 1971/1990 (58.1%, G&M for Spinola, Italy)
92 - Macallan 25yo 1976/2001 (50%, Silver Seal, Single Barrel)
92 - Macallan 30yo 1976/2006 (45.3%, Adelphi, C#2749, 206 Bts.)
92 - Port Ellen 21yo 1982/2004 (61%, DL Platinum / WCOA, 302 Bts.)
92 - Royal Brackla 27yo 1975/2002 (59.7%, TWE, C#5471, 204 Bts.)
92 - Saint Magdalene 23yo 1970/XXXX (58.1%, UD Rare Malts)
92 - Single Speyside Malt 41yo 1965/2007 (53.5%, TWF, Sherry)
92 - Talisker 10yo (45.8%, OB, Bottled +/- 1998)
92 - Talisker 1955/2005 'Secret Stills #1' (45%, Gordon & MacPhail)
91 - Ardbeg NAS 'Committee' (55.3%, OB, vatting, 2002)
91 - Ardbeg 10yo 1993/2004 (50%, Douglas Laing OMC, 338 Bts.)
91 - Ardbeg 1990/2003 (46%, G&M for Symposion
91 - Ardbeg 17yo 1974/1992 (43.0%, Signatory, C#2026, 1200 Bts.)
91 - Ardbeg 1976/2004 (51.4%, OB, C#2398, 504 Bts., Feis Isle 2004)
91 - Balvenie 32yo 1968/2000 'Vintage Cask' (50.8%, OB, C#7294)
91 - Benriach 11yo 1994/2005 (59.7%, Signatory, C#05/355/1)
91 - Bowmore 1991/2005 (59.6%, SSMC, C#575)
91 - Bowmore 38yo 1964 (42.9%,
91 - Brora 30yo 1972/2002 (46.6%, DL OMC, 204 Bts.,
91 - Brora 30yo '2003' (55.7%, OB, 3000 Bts., Bottled 2003)
91 - Brora 30yo '2005' (56.3%, OB, 3000 Bts., Bottled 2005)
91 - Caol Ila 12yo 1978/1990 (65.5%, Cadenhead's)
91 - CC
91 - CC Speyside 1991/2006 'Sauternes' (50%, CC., 297 Bts.)
91 - Glendronach 20yo 1970/1990 (56%, Signatory, C#513-518)
91 - Glenfarclas 1959/2002 (46%,
91 - Glen Garioch 29yo 1968 (53.7%,
91 - Glen Garioch 36yo 1967/2003 (55.5%, DL Platinum, 132 Bts.)
91 - Glengoyne 15yo 1989/2005 '
91 - Glengoyne 19yo 1985/2004 (52.6%, OB, C#608, 'Summer')
91 - Glen Grant 1970/2001 (55%,
91 - Glen Grant 1956/2005 (46%, G&M for LMdW, 459 Bts.)
91 - Glen Keith 1967/2006 (53%, G&M for LMdW
91 - Hanyu 1988/2006 (56.3%, Full Proof Holland, C#9204, Puncheon)
91 - Highland Park NAS (70 Proof, G&M OB, Saint Patrick, +/- 1960)
91 - Highland Park 21yo 1959/1980 (43%, OB, J. Grant, Green dumpy)
91 - Inchgower 24yo 1980/2005 (54,7%, SMWS 18.24)
91 - Invergordon 36yo 1965/2002 (51.8%, Peerless, C#15539)
91 - Jura Whisky 3yo 1999/2002 (60.7%, OB, C#92, 447 Bts., Japan)
91 - Lagavulin 12yo (43%, OB, Montenegro in Zola, early 1980's)
91 - Lagavulin 1979 Distillers Edition (43%, OB, +/- 1997, PX finish)
91 - Laphroaig 15yo 1985/2000 (50%, DL OMC, 'Laudable', 318 Bts.)
91 - Macallan 18yo 1970/1988 (43%, OB)
91 - Macallan 18yo 1976/1995 (43%, OB)
91 - Macallan 30yo 1971/2002 'Vintage' (56.4%, OB, C#4280)
91 - Mortlach 50yo 1936/1986 (40%, Gordon & MacPhail)
91 - Nikka 18yo 1987/2006 (55,2%, SMWS C#116.9, Japan)
91 - Port Ellen 19yo 1982/2001 (59.5%, The Bottlers, C#573)
91 - Saint Magdalene 24yo 1978/2002 (50%, DL OMC, 504 Bts.)
91 - Springbank 35yo 1968/2003 (46%, Berry Bros, 3 casks)
91 - Springbank 35yo 1970/2005 (59.5%, The Whisky Fair, 120 Bts.)
91 - Strathisla 35yo 1967/2003 (54.3%, G&M for Barmetro, C#2063)
91 - Talimburg 32yo 1972/2005 (45.2%, TWF, Rum finish, C#1568)
91 - Talisker 10yo (45.8%,
91 - Talisker 14yo 1979/1993 (64.3%, Cadenhead's)
90 - Aberlour NAS 'A'bunadh' No Batch # (59.6%, OB, +/- 1998)
90 - Aberlour A'bunadh' Batch #20 (60.5%, OB, Bottled +/- 2007)
90 - Ardbeg 13yo 1990/2004 'Cask Strength' (55%, OB for
90 - Ardbeg 25yo 'Lord of the Isles' (46%,
90 - Ardbeg 26yo 1974/2001 (50%, Douglas Laing OMC, 252 Bts.)
90 - Ardbeg 28yo 1974/2003 (50%, Douglas Laing OMC, 264 Bts.)
90 -
90 -
90 - Balblair 40yo 1965/2007 (47.7%, The Single Malts of
90 - Balvenie NAS (40%,
90 - Benriach 30yo 1976/2006 (53%, OB for LMDW, Cask #3557)
90 - Benriach 31yo 1975/2007 'Lightly Peated' (53,7%,
90 - Brora 19yo 1982/2001 (50%, Silver Seal, Sherry, 240 Bts.)
90 - Brora 23yo 1981/2005 (61%, Duncan Taylor, C#1425, 542 Bts.)
90 - Brora 29yo 1971/2001 (50%, DL OMC, 258 Bts., Btl. 04/'01)
90 - Brora 30yo 1972/2003 (47.4%, DL The Whisky Shop, 220 Bts.)
90 - Port Charlotte 2001/2004 (67.3%, Private Bottling, C#286)
90 - Bunnahabhain 34yo 1968/2002 'Auld Acquaintance' (43.8%, OB)
90 - Caol Ila 1994/2005 (58,2%, G&M Cask, C#12423-12424)
90 - Caol Ila 12yo 1992/2005 (46%, Whisky Galore)
90 - Caol Ila 15yo (57%, Bulloch Lade & Co. Ltd., 75cl, Orange label)
90 - Caol Ila 21yo 1975/1997 (61.3%, UD Rare Malts)
90 - Caol Ila 22yo 1984/2007 (55.9%, Whisky Fair, Sherry, 287 Bts.)
90 - Caol Ila 25yo 1979/2004 (61.2%, Blackadder, C#5334)
90 - Clynelish 13yo 1990/2003 (59.3%, Blackadder, C#3593)
90 - Clynelish 28yo 1976/2004 (46%, Murray McDavid Mission IV)
90 - Dailuaine 31yo 1973/2005 (47.8%, The Whisky Fair, C#14739)
90 - Glenfarclas 30yo (43%, OB, +/- 2004)
90 - Glen Garioch 29yo 1968 (55.9%, OB, C#629)
90 - Glengoyne 1989/2006 'Charlie's Choice' (56%, OB, C#1231)
90 - Glengoyne 1989/2007 'Robbie's Choice' (55,1%, OB, C#328)
90 - Glengoyne 1986/2006 'Peter's Choice' (51%, OB, C#433)
90 - Glengoyne 32yo 1972/2005 (48.7%, OB, White Rioja, C#985)
90 - Glen Grant 1972/2007 (54.9%, The Single Malts of Scotland)
90 - Glen Grant 50yo 1956/2006 (40%, G&M, Unknown series / cask#)
90 - Glen Keith 1967/1988 (46%, Moon 'The Sea', C#1417, 360 Bts.)
90 - Glenlivet 28yo 1975/2003 (54.1%, Signatory, C#5719, 551 Bts.)
90 - Glenlivet 29yo 1963/1992 (52.8%, Signatory, C#269-270)
90 - Glenlossie 1975/2001 (55%, G&M Reserve, C#2909)
90 - Glenrothes-Glenlivet 16yo 1990/2007 (57,3%, Cadenhead's)
90 - Highland Park 19yo 1959/1978 (43%, OB, James Grant, 75cl)
90 - Highland Park 'Online Tasting' 1974/1998 (52.6%, OB, 228 Bts.)
90 - Highland Park 38yo 1966/2005 (42.4%, DT for The Whisky Fair)
90 - Highland Park 1902 (39.8%, Berry's All Malt, 1952-1953)
90 - Lagavulin 12yo Special Release #1 (58%, OB, 2002)
90 - Lagavulin 12yo Special Release #2 (57.8%, OB, 2002)
90 - Tamifroyg NAS (49%, Regensburger Whisky Club, 2006)
90 - Laphroaig NAS 'Quarter Cask' (48%, OB, 2005, Second edition)
90 - Laphroaig 10yo 'Unblended' (43%, OB, Bottled +/- 1980)
90 - Laphroaig 11yo 1992/2004 (60%, Signatory, Portwood Finish)
90 - Laphroaig 13yo 1991/2005 (59.1%, SMWS, 29.40)
90 - Laphroaig 16yo 1987/2004 (50%, DL OMC, DL REF 745, 312 Bts.)
90 - Laphroaig 17yo 1989/2007 (50.3%, OB, 4000 Bts., Feis Isle 2007)
90 - Laphroaig 1976 'Vintage' (43%, OB, Bottled +/- 2000)
90 - Laphroaig 30yo (43%, OB, Bottled +/- 2006, Ref LQ0167)
90 - Ledaig 31yo 1973/2004 (54.8%, Chieftains, Sherry, C#1710)
90 - Linkwood 12yo (43%, OB, John McEwan & Co, Black Label, UK)
90 - Longmorn 1974/1985 (60.8%, Samaroli, Sherry, 600 Bts.)
90 - Longmorn 31yo 1974/2006 (49.8%, TWF, C#3494, 135 Bts.)
90 - Longmorn 1972/2006 (45%, Gordon & MacPhail, C#1088)
90 - Longmorn 1973/2006 (54%, G&M Cask, C#6350)
90 - Longrow 16yo 1974 (46%, OB, Bottled +/- 1991)
90 - Longrow NAS 1973 (46%, OB, Small Caps Label, +/- 1990)
90 - Macallan 10yo '100 Proof' (57%, OB, +/- 1996)
90 - Macallan 12yo 1990/2003 (57.5%, Wilson & Morgan, C#8748)
90 - Macallan 18yo 1981/1999 (43%, OB)
90 - Miyagikyo 1989/2007 (60%, OB, Warehouse #20, Japan)
90 - Miltonduff 23yo 1966/1990 (62.4%, G&M for Spinola, Italy)
90 - Yoichi 1991/2007 (62%, OB, Warehouse #15, Cask #129493)
90 - Oban 32yo 1969/2002 (55.1%, OB)
90 - Old Farm 1938/1943 Straight Rye Whiskey (50%, OB, USA)
90 - Port Ellen 27yo 1978/2005 (52.3%, DL for TWF, 198 Bts.)
90 - Probably Speyside's Finest 40yo 1965/2006 (50%, DL OMC)
90 - Royal Brackla 30yo 1976/2006 (53.6%, Cadenhead's, 126 Bts.)
90 - Scapa 25yo 1975/2001 (50%, DL OMC, 438 Bts.)
90 - Speyside The Whisky Fair 35yo 1971/2006 (51.4%, TWF)
90 - Springbank NAS (46%, OB, House & Tree Label, France, 70cl)
90 - Springbank 21yo (46%, OB, Bottled late 1990's or 2000)
90 - Springbank 1966/1998 'Local Barley' (54.4%, OB)
90 - Springbank 35yo 1971/2007 (59%, TWF, Sherry, 239 Bts.)
90 - Suntory Yamazaki 1991/2005 (56%, OB, 70cl, Japan)
90 - Suntory Yamazaki 25yo (43%, OB, Bottled +/- 2006, 75cl)
90 - Invergordon 1964/2005 (47.1%, Adelphi, C#57637)
90 - Talisker 10yo (45.8%, OB, +/- 1995)
90 - Talisker 19yo 1980/2000 (50%, DL OMC, 'Tactical', 348 Bts.)
90 - Talisker 1955/1993 (53.6%, G&M Cask series, C#1310+1311+1257)
90 - Tamnavulin 37yo 1967/2005 (46.7%, Duncan Taylor, C#1018)
90 - Tobermory 32yo 1972/2005 (49.5%,
90 - Tomatin 1968/2001 (40%, Connoisseurs Ch., New Map Label)
Friday, June 27, 2008
A Great Cigar--Paul Garmarian
PG cigars have great flavor and excellent quality control. I have never had to re-light one of these cigars unlike the Cubans.P.G. cigars have earned their international reputation by word of mouth for their balanced medium strength, rich, spicy and deliciously smooth flavors and aromas. Made in Santiago, D.R. with complex aged fillers and binder, and colorado shade grown Connecticut wrappers, (grown in Equador) P.G. cigars have come to represent the finest in quality, consistency and integrity.
An Outstanding Cognac--Tesseron
COGNAC TESSERON

Tesseron Lot N° 76 "X.O Tradition" is an exceptional blend of reserve stocks of Grande Champagne Cognac, matured to perfection in old casks. Lot N° 76 immediately establishes its quality on the nose which exhibits a wealth of caramelised peaches, almond and candied fruit aromas. This carries through magnificently on to the palate, with rich, delicate flavours of nuts and dried fruits. A rare range of tasteful sensations.
Sunday, June 22, 2008
IWC's Pellaton movement

To explain how the movement works I want to quote Michael Friedberg, because it’s difficult to explain: ‘This movement used the now famous Pellaton winding system, in which rollers (shown at left in red) oscillate between an eccentric cam, which causes two clicks (shown in yellow) to ratchet against a saw-toothed winding wheel. The system had many advantages: it was easy to disassemble for service and it offered shock resistance. It also was efficient in winding, both because of the ingenious design and because two jewels could be used as bearings due to the shock resistance. While the mechanism was unique to IWC and patented, its concepts had antecedents’.
Saturday, June 21, 2008
The World's Best Watches--A Collectors Guide
The World's Best Watches
Neal Santelmann
In an age when the current time--or something close to it--blinks on every cell phone, laptop, microwave and dashboard, wristwatches are still vital. We are obsessed with time, paradoxically pursued by it and never having enough. Whether we are running late for a plane, dashing to a meeting or waiting for a friend on a street corner, we all share a universal mannerism: the reflexive wristwatch check. And seeing as how we spend so much of our lives rotating our wrists and checking the time, we may as well have something beautiful or cool or interesting to look at.
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Perhaps most conveniently, the watch market is full of affordable product. While even the most uncomplicated wristwatches from legendary manufacturers such as Vacheron Constantin, Audemars Piguet and Patek Philippe may run you as much as a midsize car, there are plenty of quality watches available for a whole lot less. "It used to be that $1,000 was the cutoff for a really great watch, but nowadays the threshold is much lower," says Keith Strandberg, watch editor of InSync, a consumer and trade publication. He notes that Hamilton--a classic American design now owned by the Swatch Group and manufactured in Switzerland--has a great selection of mechanical watches for as little as $300.
If you haven't come across the wristwatch of your dreams just yet, you must not be looking hard enough. Or perhaps you're looking too hard, as the volume of watches available at retail is nothing short of daunting. Low-end quartz-movement brands such as Fossil introduce hundreds of models each year. Meanwhile, makers of fine watches typically maintain multiple collections--such as sports watches, dress watches and Grand Complications--multiple models within those collections--such as chronographs, pilot watches and day & dates--as well as numerous versions of each model. Want it in stainless steel with a black dial? Rose gold with a white dial? A platinum pavé speckled with diamonds? Chances are it's in the collection--and let's not even get started on all the possible bracelet and strap combinations.
Add to all of this the many fashion designers, sports franchises, entertainment conglomerates and consumer goods manufacturers that routinely pump out watches for sale or giveaway. From the plastic freebie your kid digs out of a cereal box, to stylish line extensions from Tommy Hilfiger (nyse: TOM - news - people ) or Calvin Klein, to calculated collectibles such as Casio's limited-edition "G-Shock" Jeremy Shockey signature watch promoting the New York Giants' hobbled tight end, there are almost too many watches to contemplate.
"It's relatively easy to get started in the watch business," notes Strandberg. "Simply contract a movement from an established watchmaker and put your name on it. You might not be selling timeless creations, but if you catch a trend they'll sell."
Once wristwatches did catch on, however, there seemed no stopping them or their technological advances. The first chronographs appeared in 1909, the first date watches in 1912, and waterproof watches surfaced in 1915, encouraged by the military necessities of World War I. Indeed, the Allied armored combat vehicles that defended France during the Great War inspired Louis Cartier's famous Tank Watch, the first examples of which were presented to American Gen. John J. Pershing. Rolex patented its first "Oyster" watch with a waterproof case and screw-in crown in 1926, and garnered exceptional publicity the following year when a long-distance swimmer wore one, without damage, while stroking across the English Channel.
Self-winding watches began relieving the burden of winding in 1932, and the world's first electric watch--a Hamilton Ventura--became an instant hit in 1957. When Neil Armstrong stepped onto the moon in 1969 with an Omega Speedmaster-Chronograph on his wrist, there were some 1,600 watchmakers in Switzerland, the Detroit of the industry. Yet time stopped shortly thereafter with the appearance of cheap quartz technology. In the upheaval that followed throughout the 1970s, many classic old-line watchmakers went bankrupt and shut down, while the Swiss government rushed in to save what it could. In the end, employment in the Swiss watch industry dropped from 90,000 in 1970 to just over 30,000 in 1984. These days there are around 650 watchmakers in Switzerland, with some 40,000 employees between them.
Though close to 90% of all watches manufactured worldwide have quartz movements, a quality mechanical watch is the way to go. That's something that has only recently begun to dawn on many Americans. "In Europe you'll see street sweepers with $5,000 watches, whereas CEOs in the U.S. will be happy with $20 quartzes," says InSync's Strandberg. "We just don't have the same tradition of fine watches here."
When the wonder of fine watches finally dawns upon you, what will you find? One of the current consumer trends is big watches, and the bigger the better: from 45 millimeters to 51 millimeters in diameter (a half-dollar is a mere 38 millimeters across), depending on the material. The weight of these watches varies according to the metal used; a stainless steel watch would feel comparatively heavy, while a titanium watch would feel like nothing at all. While "watch wardrobing" has been around for years--i.e., a sports watch to go with your jogging outfit; something slim and elegant for the office--lately watch wearers have adopted a crossover approach. Today it's a Breitling dive watch to go with an Ermenegildo Zegna suit, or an aforementioned big and clunky timepiece for a lady's slender wrist.
Speaking of ladies' watches, they're still around and as svelte and elegant as ever, though these days many women are choosing sports watches that better reflect their contemporary lifestyles. At the same time, minute and gem-encrusted "jewel" watches from the likes of Piaget and Van Cleef & Arpels are as much jewelry as they are wristwatches. And lately fashion watches have been bursting with flashy colors, both on dials and straps. Indeed, watch firms such as Cartier and Michele have recently introduced in their fashion lines easily interchangeable straps in a rainbow of colors, so you no longer have to go back to the retailer in order to change them.
Then there are the timeless classics, those complex wristwatches that do everything from follow moon phases to calculate how much you owe the IRS. Referred to as "complicated watches," they cost as much as a good-size house and dazzle the eye with extras. Be forewarned, some complicated watches are as hard to pin down as psychological baggage. For instance, the fabulous Opera Three from Girard-Perraguax, which plucks Tchaikovsky and Mozart tunes on a miniature interior music box, is an amazing timepiece at $475,000 but virtually unavailable. ("We'll get one in sometime next year," says Ronald Jackson, president of Girard-Perraguax USA.) Meanwhile, a spokeswoman for Patek Philippe notes that a number of the company's Grand Complications have buyers long before they're finished, often at a rate of just a few per year.
For your watch-buying pleasure, we've compiled a selection of 18 fine watches that'll stop time. They range in price from under $2,000 to $2,000-$5,000 to $5,000 and up, as well as a few that are "sky's the limit." We've found them in a range of styles, including sports, fashion, dress, cool complications, ladies' and over the top. And they're all available right now.
Wednesday, June 18, 2008
Fly Clear Program---Excellent Time Saver
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Monday, June 16, 2008
Global investing: One world, one fund
Global investing: One world, one fund
Many experts say you don't need to invest in U.S. and foreign stocks separately. So are new 'global' funds the way to go?
In the 1980s, Japanese stocks were the surest path to investment success. In the '90s, it was the U.S., thanks to our booming tech economy. So far this decade, foreign equities are again shining the brightest - this time thanks to the emerging economies of China, India and Latin America. If you had to keep traipsing around the world hoping to spot these tectonic shifts early enough to take advantage of them, you'd suffer perpetual portfolio jet lag.
Here's the thing, though: You don't have to globe-trot anymore. Dozens of new portfolio mutual funds have been launched recently that promise to simplify your life by investing in a diversified mix of foreign and U.S. stocks. In other words, you can now gain exposure to all the world's stock markets through a single mutual fund.
The rise of these global funds reflects a significant shift in thinking. It's long been argued that you need both U.S. and foreign stocks at all times (because different markets run on different cycles and because you want to diversify your currency exposure).
What's changed is the idea that you need to treat U.S. and foreign stocks as distinct assets. In a world where around 65% of McDonald's (MCD, Fortune 500) revenue comes from overseas and 35% ofToyota's (TM) sales are made in North America, what's the point? "Stock picking is stock picking," says Mike Thompson, a managing director of Thomson Reuters.
Global stock funds aren't exactly new. The concept has been around since the 1950s. But only recently have these funds grabbed investor attention. In the past three years, 59 new global funds have been launched, according to Morningstar.
And some of the industry's most respected players are joining the trend, lending further credibility to it. Dodge & Cox, for instance, launched its first global fund in May. And Vanguard announced plans to roll out an index global fund this summer.
While you should always be wary of hitching your wagon to a hot investing trend, there's a strong argument for using a global fund as a core holding - in other words, a fund you should always have in your portfolio because it gives you exposure to a critical asset class.
With a global fund, you don't have to decide what your mix of foreign and domestic stocks should be at all times. In the case of actively managed portfolios, the fund managers will make those adjustments for you, based on where they think the best opportunities are. With Vanguard's index fund, your exposure will be based on each country's share of world market capitalization.
The simplest way to incorporate these funds into your plan is to use one to replace your existing large-capitalization U.S. stock funds and foreign portfolios.
If that's your strategy, you might want to stick with a global fund that keeps about half or more of its assets in the U.S. After all, you don't want to take on too much foreign currency risk by investing the majority of your money abroad.
If you plan on hanging on to a few other domestic portfolios - for instance, a specialty sector fund or a small-cap fund - those holdings will help boost your overall exposure to the American market.
Some financial planners warn that by giving a fund the latitude to invest around the world, you give up control of your foreign exposure. "My concern is that the fund managers will take on too much risk if one area, like foreign, is doing really well," says Northampton, Mass. planner John Perkins.
That's a valid concern. But remember that the majority of U.S. stock funds are also venturing overseas. More than 80% of U.S. large-cap stock funds now own foreign equities, and some keep more than 50% of their assets abroad.
What's more, history says the difference in performance isn't that big over the long run. T. Rowe Price analyzed various combinations of U.S. and foreign equities. From 1970 to 2007, a 60% U.S.-40% foreign mix delivered an average annual return of 11.3%, as did a fifty-fifty mix. A 60% foreign-40% U.S. portfolio did only slightly better - 11.4%, with a slightly bumpier ride.
Foreign stocks don't diversify your portfolio as much as they once did. Over the past five years, U.S. and foreign equities have moved more or less in lockstep, a big change from 2000. What foreign stocks can still do is help you cast a wider net in your search for the best investments.
A recent report from Ned Davis Research found that at the moment the biggest performance differences among equities are between market sectors, not countries. Global funds are best positioned to take advantage of this trend.
Why? They can simply pick the best stocks in the world, no matter where the companies have their headquarters. Your foreign-only fund manager, on the other hand, might be compelled to invest in, say, a European drugmaker even if he thinks that some U.S. pharmaceutical companies are better picks.
So far this global-mindedness has paid off. Among world stock funds with at least a 10-year history, the average annualized return is 6.2%. That beats the S&P 500's record of 3.8% and nearly matches the 6.8% annual gain for the Morgan Stanley EAFE index of foreign equities.
As with all fund decisions, though, you can't just rely on past performance. Here are a few points to consider before taking the global plunge.
Know the fund's style Not all global funds are created equal. Some funds will gravitate toward shares of fast-growing companies, while others will focus on beaten-down or overlooked value stocks.
Moreover, many currently embrace a foreign-heavy mix. The typical global fund recently kept only around 40% of its assets in U.S. equities, according to Morningstar. Some have been holding even less: As of the end of March, just under 14% of the stocks in Mutual Discovery Z were based in the U.S.
Consider track records Though many global funds are new, there are several with solid long-term records. T. Rowe Price Global Stock fund and Vanguard's managed fund, Vanguard Global Equity, are more than a decade old. And each has beaten more than 70% of its peers over the past three, five and 10 years.
If you're considering one of the many new global funds, make sure the firm running it has a good record managing foreign and U.S. assets. For example, Dodge & Cox Global Stock will rely on the same analysts who work on its sibling U.S. and international funds, both of which have beaten around 80% of their peers over the past five years.
Says Morningstar senior fund analyst Dan Culloton: "It will be the company's best ideas unconstrained by any geographic requirement."
Go cheap As always, you want to minimize expenses. On average, global funds bill investors 1.55% annually. But the newest funds are expected to pull the average down: Dodge & Cox has said it will cap its annual fee at 0.9%, and Marsico Global charges 0.75%.
As William Bernstein, co-principal of Efficient Frontier Advisors and author of A Splendid Exchange, a book about the history of world trade, says, "Performance comes and goes; expenses are forever." That's true whether you're investing in the U.S. or in foreign markets. Or both.
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With a recession and rising inflation, it's more crucial than ever to have a six to 12-month living-expense cushion in cash for an emergency. Don't have it? Drop us a line at makeover@moneymail.com. Include your name, age, city, state, marital status, occupation, how much you have in cash savings and retirement savings. Please send a photo of you (and your spouse, where applicable) too. ![]()
Monday, June 02, 2008
Money 70: The best mutual funds you can buy
Money 70: The best mutual funds you can buy
These funds are built to last, no matter what the market brings. Use them to create a steel-plated portfolio that will get you to your goals.
We focus on criteria that have real predictive value: low expenses, a strong record for putting share-holder interests first, a consistent investment strategy and experienced managers.
A fund that meets our standards typically ends up delivering above-average returns - over the past five years, 73 percent of the actively managed funds on our roster outperformed their category average. Even in 2007's difficult market, 57 percent delivered returns that rank in the top half of their category.
The Money 70 is designed to help you construct all aspects of your portfolio. It includes a range of actively managed stock and bond funds, as well as low-cost index and exchange-traded funds. Or you can put your investments on cruise control with one of our target-date retirement portfolios, which give you a preset mix of funds that automatically becomes more conservative as you near retirement.
See more on how we picked the funds and what changes we've made since last year.
|
| Ticker | Fund name | 1-yr return | 3-yr return | 5-yr return | Exp. ratio | Min. inv. | Style |
|---|---|---|---|---|---|---|---|
| LARGE-CAP | |||||||
| FSMKX | Fidelity Spartan 500 Index Investor | -6.8% | 7.5% | 9.7% | 0.1% | $10,000 | Blend |
| FSTMX | Fidelity Spartan Total Market Index Inv | -6.3% | 8.3% | 10.8% | 0.1% | $10,000 | Blend |
| VFINX | Vanguard 500 Index | -6.8% | 7.4% | 9.6% | 0.1% | $3,000 | Blend |
| VTSMX | Vanguard Total Stock Mkt Idx | -6.3% | 8.2% | 10.7% | 0.1% | $3,000 | Blend |
| MIDCAP | |||||||
| VIMSX | Vanguard Mid Capitalization Index | -6.5% | 10.6% | 14.9% | 0.2% | $3,000 | Blend |
| SMALL-CAP | |||||||
| NAESX | Vanguard Small Cap Index | -8.2% | 9.1% | 14.1% | 0.2% | $3,000 | Blend |
| SPECIALTY | |||||||
| VGSIX | Vanguard REIT Index | -12.4% | 10.5% | 16.9% | 0.2% | $3,000 | Real estate |
| FOREIGN | |||||||
| FSIIX | Fidelity Spartan International Index Inv | -2.3% | 16.9% | 19.1% | 0.1% | $10,000 | Blend |
| VEIEX | Vanguard Emerging Mkts Stock Idx | 21.3% | 31.9% | 33.6% | 0.4% | $3,000 | Emerging markets |
| VGTSX | Vanguard Total Intl Stock Index | 1.6% | 19.1% | 21.2% | 0.0% | $3,000 | Blend |
| BOND | |||||||
| VBISX | Vanguard Short-Term Bond Index | 7.1% | 4.5% | 3.2% | 0.2% | $3,000 | Bonds |
| VBMFX | Vanguard Total Bond Market Index | 6.4% | 4.1% | 3.7% | 0.2% | $3,000 | Bonds |
| Data as of: May 30, 2008 | |||||||
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- An Amazing Charity the Central Asia Institute
- SINGLE MALT WHISKEY RATINGS-FROM MALT MADNESS
- A Great Cigar--Paul Garmarian
- An Outstanding Cognac--Tesseron
- IWC's Pellaton movement
- The World's Best Watches--A Collectors Guide
- Fly Clear Program---Excellent Time Saver
- Global investing: One world, one fund
- Money 70: The best mutual funds you can buy
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