Tariffs and Cork

Featuring Alex Rosenberg, Justine Underhill, Roger Hirst and Jake Merl

Why will U.S. tariffs lead to a resurgence for the global cork industry? Alex, Justine and Roger discuss. Plus, Jake makes the case for young people to own gold. Filmed on June 4, 2018.

Published on
7 June, 2018
US Economy, Consumption, Politics, Gold
27 minutes


  • JF

    Jennifer F.

    6 7 2018 07:23

    0       0

    We produce some absolutely great quality red wine. We have so much more depth of flavour than anything produce from the Napa Valley. And yes the screw top does not breathe. But that is why we decant and let it breathe. Also many are now, sealing the bottles with nitrogen. So nifty in protecting the wine as well.

  • CN

    Charles N.

    13 6 2018 23:29

    0       0

    I listened to the podcast version of this episode, and came here to leave a comment, where I was surprised to find the "10 Reasons" segment. I think it deserves inclusion in the podcast format in the future, even though the graphs won't translate to the audio-only format. I understand the A/B testing aspect of having different content across the 2 formats, but I think they should be in sync in the future once you're happy with the structure of the show so people don't have to listen to both versions. Thank you for continuing to experiment - I think this episode is an improvement on the first one. That said, this show would be more valuable to me if it incorporated more of what made AiF great: nuggets of wisdom from market participants with years of experience and skin in the game. I'll check back in a few more episodes.

  • T

    Timo .

    10 6 2018 08:11

    2       0

    One more reason for using cork, which Alex didn't mention, is that especially for wines that have aging potential...the screw top doesn't breath as natural cork does. This has a significant effect on the aging/maturing of finer wines.

  • ST

    Simon T.

    8 6 2018 11:43

    1       1

    The Gold part was an interesting summary for beginners, Crystal clear
    Talking about corks and wine is most welcome but a little bit amateurish when Justine said “oh - Australia is producing wine?”
    Unfortunately didn’t learn anything during these 30 minutes

  • DS

    Dan S.

    7 6 2018 21:04

    4       0

    This was enjoyable. Good work RV

  • IH

    Iain H.

    7 6 2018 21:00

    2       0

    Much better than the first show. keep up the good work.

  • JW

    Joel W.

    7 6 2018 20:42

    4       1

    Much improved; good episode.

  • BS

    Bill S.

    7 6 2018 20:11

    0       1

    Getting better, good gold segment regardless of demographic. A little
    goofy at times but improving.

  • TJ

    Terry J.

    7 6 2018 19:18

    1       1

    Brilliant! Loved it, and as several other viewers have already commented the content is getting better each week! Great pitch from Jake to fellow millennials to consider gold, if only as a diversification play. Well done Milton.

  • RD

    Ryan D.

    7 6 2018 17:49

    3       0

    Waaaay Better Episode! Being in the wine business, had a hunch where it was going and I hope that high quality cork makes a comeback as it is a time intensive business. Quality cork trees can take up to 50 years for the first harvest.

    Restaurant Wine Tip: When poured a "taste' at a Restaurant, just smell for anything funky, don't taste. It's way classier.

    Good job. Justine and Alex!

  • MC

    Minum C.

    7 6 2018 17:10

    4       0

    This is a massive improvement in terms of the balance between humour and information. I learned something about wine corks.

    There was a comment about how if one can stomach the volatility in equities, they'd be better off just riding equities higher. I think the problem here is most people are happy to believe they can stomach the volatility in equities. But when the shit hits the fan, most of the most will realize the truth about their tolerance for volatility and will end up doing a capitulation puke session. This is actually very normal human behaviour, which is mainly why there is such high volatility in equities in the first place. For instance, investors put a higher multiple on earnings as the earnings cycle peaks, and a lower multiple on earnings as the cycle troughs. Perhaps an even bigger problem is that any sort of capitulation puke session in ugly bear markets leaves investors with semi-permanent psychological scars that keeps their allocation to equities below what it might otherwise be.

  • WS

    William S.

    7 6 2018 15:27

    6       0

    The assumption made by all three participants that someone who holds gold would struggle to make it "liquid" in order to exchange it for goods or services is just silly. You would never need to be in a situation where it was necessary to barter with gold in order to purchase bread or sushi. Even in Venezuela and Argentina now, you would simply go to a bullion dealer or a pawn shop (if need be) and convert your gold to local currency or dollars, and then exchange that currency for goods and services. All that would happen is that your gold would continually appreciate in terms of the currency into which it is being converted. Only in the case of all currencies devaluing to zero would one need to use gold as currency. That said, gold's primary purpose is as a long-term store of value for larger amounts of wealth. Silver is the precious metal of choice for use in a currency crisis. That's why most people I know who hold gold also hold some silver -- often in fractional quantities (like pre-1965 US coins) -- for the potential purpose of barter. Believe me, in a currency crisis, *everyone* with goods or services to sell would very quickly know the current purchasing value of gold and silver. People are very quick learners when it comes to things like that.

    As for myself, I routinely save in both gold and silver, and I regularly convert a couple thousand dollars worth of gold or silver into USD at a local bullion dealer. It's a very easy process, and I have calculated that I have earned in excess of 10% interest (in the form of appreciation) over the course of the past few years -- much better than if I had parked cash in a savings or checking account.

    Finally, there are a growing number of gold-savings companies like GoldMoney.com where one can save in gold or silver, and "spend" that savings as needed by using a Visa/Mastercard that debits your gold holdings (calculated to fractions of a gram) after doing a real-time conversion to your local currency for the purchase you are making. Easy as can be.

  • GL

    Guillaume L.

    7 6 2018 14:42

    13       0

    Good episode. It really looks like they took into account a lot of the comments.
    Great job!

  • SW

    Scott W.

    7 6 2018 13:14

    4       0

    To all the impending naysayers, It's impressive that you already know enough about fracking sand (last episode) and cork/wine such that you require but a twitter-length condensation for trade implications. For dummies like me, unfamiliar with most industry nuances, I find this interesting and informative. Different than the other content, sure. But I think Raoul provided a sound justification. RV - keep on!

  • V!

    Volatimothy !.

    7 6 2018 11:31

    0       0

    Next week, rising corn prices bad for liquor sales.

  • PB

    Pieter B.

    7 6 2018 11:23

    2       0

    This is awesome! Really fun and informative! Great series, thank you!