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November 9, 2015
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Bonhams, the auction house, is holding a scotch auction in New York on November 20th at beginning at 10:00am. A little early to drink in New York and London, but it is past 5:00pm in Hong Kong. – Smile!

Some really stunning bottles are being auctioned off including: –

Ardbeg Single Cask 1972
Distilled 27 Oct 1972, bottled 14 Oct 2004 by Ardbeg Distillery Limited.
Cask number 2780, Ping No. 1, bottle number 41 of 245. In presentation case. Good label. Level: into neck. 70 cl. Single malt, 51.4% volume

Footnote

There’ll be another scramble to Copenhagen when the world gets word of this one…sadly I didn’t get this until just after the last Bible went to press: as an October 2004 bottling this might have won Whisky of the Year, but we’ll never know! 51.4%. 245 bottles for Juuls Vinhande (Denmark). Rated 97. Jim Murray – Whisky Bible”

The Balvenie 50 Year Old 1952
In cask 26th January 1952, bottled 5th September 2002. Distilled & bottled by The Balvenie Distillery Company.
Cask 191. Bottle number 36 of 83. In wooden presentation case. Good label. Level: very top shoulder. 70 cl. Single malt, 45.1% volume

Bruichladdich 40 Year Old 1964
Distilled 22nd October 1964 by Bruichladdich Distillery.
Bottle number 152 of 550. Level: high shoulder. 700 ml. Single malt, 43.1% volume

The Macallan Millennium Decanter 50 Year Old 1949
Distilled January 1949, bottled August 1999 by The Macallan Distillers Ltd.
Caithness Glass, hand blown crystal decanter. In fitted wooden presentation case with copper-clad crystal stopper. Original shipping box. 700 ml. Single malt, 43% volume

Gary D’Urso, Bonhams, Specialist – Whisky, New York, United States

+1 917 206 1653
Fax: +1 212 644 9009
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August 9, 2015
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Clearly since the financial crisis of 2008 the U.S. Government, the Federal Reserve, social activists and pundits have been preoccupied with the idea of “Too Big to Fail”. The U.S. government enacted the Dodd–Frank Wall Street Reform and Consumer Protection Act on July 10, 2010. As described by President Obama, this Act to change the U.S. financial regulatory system (and impact the global financial system) would be a “sweeping overhaul of the United States financial regulatory system, a transformation on a scale not seen since the reforms that followed the Great Depression”.

The greatest impact of Dodd-Frank on the marketplace has been the destruction/elimination of entrepreneurial. Instead of controlling those financial entities that are “too big to fail”, Dodd-Frank has enhanced their size, power and market competitiveness as compared to smaller entities. The regulatory framework which Dodd-Frank has put in place has all but limited entrepreneurial development of financial institutions, such as start up hedge funds or new start-up banking/financial institutions, The Dodd-Frank Act has not only increased the likelihood that a large entity will need to be protected from failing, but also that its failure will have a significant and systemic impact as these entities have become even more pervasive throughout American society and the economy.

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August 15, 2014
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Equity Market Performance

The first quarter of 2014 produced positive equity market returns. For the first quarter ending March 31, 2014, the Standard & Poor’s 500 Index (“S&P 500”) produced a total return [including dividends] of 1.8%. The Dow Jones Industrial Index (“Dow”) and the Nasdaq Composite Index (“Nasdaq”) produced total returns of (0.2)% and 0.8%, respectively. Measuring only capital appreciation, the S&P 500 produced a return of 1.3%, while the Dow and the Nasdaq produced returns of (0.7)% and 0.5%, respectively.

The second quarter of 2014 produced positive equity market returns. For the second quarter ending June 30, 2014, the S&P 500 produced a total return [including dividends] of 5.2%. The Dow and the Nasdaq produced total returns of 2.8% and 5.3%, respectively. Measuring only capital appreciation, the S&P 500 produced a return of 4.7%; while the Dow and the Nasdaq produced returns of 2.2% and 5.0%, respectively.

Through the first half of 2014 the equity market produced positive returns. For the first half of 2014, the S&P 500 produced a total return [including dividends] of 7.1%. The Dow and the Nasdaq produced total returns of 2.7% and 6.2%, respectively. Measuring only capital appreciation, the S&P 500 produced a return of 6.1%; while the Dow and the Nasdaq produced returns of 1.5% and 5.5%, respectively.

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July 15, 2014

Mad as Hell – Come to Pound Ridge, New York

A good friend of ours, Scott Johnston, wrote an email letter (See Below) for the constituents of Bedford and Katonah. I thought the letter, “Mad as Hell – This is Inexcusable” is the perfect example of how politicians use funding of elections and taxpayer money to advance careers at the expense of their constituents. It also shows how communities become mismanaged by politicians, supported by self-interested, outside moneyed parties, with the impact being felt by its residents for years to come.

The only good thing about the problem facing the taxpayers of Bedford and Katonah is that it might encourage its residents to move to a town, such as Pound Ridge, which has been well-managed for years. For those who do not know, Pound Ridge borders Bedford/Katonah. It has a wonderful elementary school and is the only town in which its constituents had the sensibility to reject the tax increases proposed by the Bedford Central School District.

So to all those residents in Bedford and Katonah who believe their politicians are more interested in keeping and developing their careers through appeasing moneyed interests, keeping their residents the highest taxed citizens in the nation, as well as causing these tax increases to impact them for years to come, you are invited to move to Pound Ridge.

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March 15, 2014
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It doesn’t take much to realize that when you need a virtual sun to imagine what the real sun is like, it is time to cut the use of pollution inputs. However, this will come at a cost to Chinese society and development.

China has reached this point. Its cities are being choked by pollution. The life expectancy of its citizens is being shortened by poor air quality. To reduce the impact of pollutants, industrial production will be negatively impacted. Power production will also be affected. GDP growth and the expectations of future GDP growth will have to adjusted lower. Making these adjustments will not be easy or without challenges.

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