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Roundup: Fake Fancy Wine is Still Fancy
Posted By Jim On 05/25/2012 @ 12:05 pm In Personal Finance | No Comments
You’ve probably heard of the study  where, in a blind taste test, most people can’t tell the difference between cheap and expensive wine. In fact, and this is a well know psychological idea, people trick themselves into believing more expensive wines taste better simply because it’s more expensive. I know this is true for me. My palate isn’t as fine tuned and I don’t drink enough wine to be able to tell the difference. I can tell the difference between a $4 bottle and a $12 bottle but I suspect I’d have trouble between a $12 and a $100. I don’t drink a lot of wine and I don’t drink any $100 bottles! (if you’d like to buy me a bottle of wine so we can test this theory, I’m happy to oblige)
But this isn’t a “you’re a fool for buying expensive wine” story, it’s more exciting. It’s about fake wine and Rudy Kurniawan . It’s a fantastic post-mortem about how someone got hooked into a small part of the wine world and tricked them into believing his story. Ahh the perils of the 1% and wine collecting. I thought the story was fascinating.
Here are a few more fascinating stories:
Have a great weekend!
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 study: http://www.guardian.co.uk/science/2011/apr/14/expensive-wine-cheap-plonk-taste
 fake wine and Rudy Kurniawan: http://nymag.com/print/?/news/features/rudy-kurniawan-wine-fraud-2012-5/
 I’m Fine, Thanks: http://www.kickstarter.com/projects/cranktank/im-fine-thanks
 10 Ways to Improve Your Financial Health: http://moneyland.time.com/2012/05/24/10-ways-to-improve-your-financial-health-even-if-you-only-do-one/#a-personal-finance-buffet
 10 Awesome Money Making Hobbies: http://www.wisebread.com/10-awesome-money-making-hobbies
 time lapse video of the transformations: http://www.youtube.com/watch?v=v4rZjGNYxuo&feature=player_embedded
 looks at the Facebook IPO: http://blogmaverick.com/2012/05/23/facebook-ipo-post-mortem-killer-but-not-for-the-reasons-you-think/
Thank you for reading!