date:May 13, 2014
teau owners to bring the price down. The fund, which is invested in Bordeaux and doesnt buy futures from the region, manages $20 million.
Pichon Lalande is a wine estate in the Pauillac district of the Medoc, north of Bordeaux, ranked as a second growth in the 1855 classification drawn up for Napoleon IIIs Paris Exhibition of that year and still in force. Ducru-Beaucaillou is another second-growth winery further south in Saint-Julien.
Price Declines
Davis said investors who bought the five fi