We like to joke that our wine stash is an "investment." Hopefully, our tax accountant will buy that story as well.

But, many people see wine as an investment - literally - because they buy wine stocks. Depending on the season, this can be a good or not so good thing.

From Word on the Grapevine: Wine Stocks:

Are you looking for full bodied stocks, rich with a hint of spice, abundant with complexity, bearing nuances of acidity? Then maybe you have a taste for winery and vineyard stocks. Unfortunately, most of them look like they may have turned to vinegar.

Constellation Brands, Inc. (STZ) - The largest seller of wines in the world, its wines include Estancia, Ravenswood, Simi, Almaden, Banrock Station, Hardys, Inglenook, Vendange, Arbor mist, Robert Mondavi Winery, Franciscan Oakville Estate, Blackstone, Robert Mondavi Private Selection, Ruffino, Alice White, Nobilo, Hardys, Woodbridge by Robert Mondavi, and Stowells. It also produces and sells beer and liquor.

Price sales ratio is a favorable .92 and the P/E ratio is 14.6. However, on Friday, March 2, the company announced that its 2008 profit would fall well below expectations, due to a glut of Australian wine and extensive competition in Britain. Both Moody's and Fitch have lowered their ratings on the company.

They have a pretty long list of wine investments here, if you are into that kind of thing.