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About PuroDiario

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Marevas (2/5)

  1. I enjoyed one off an ARS 2019 box. I loved it as the couple I had before from same box. Wish I had more stock and more time to enjoy more often.
  2. I love the number 2. I generally enjoy pirámides across marcas. HU2 definitely in my top 3, depends on the year if top 1. Although is true the P2 and Monte 1s are being great and that takes a bit away. Dip2 and Únicos I may have had 2 cigars only if each ever, not sure why but never chased those two. I like the Upmann 2 aged. I think is a cigar that needs and benefits from the lay down. I just finished a 2014 box and it was delicious.
  3. Hi Greg, I’m in Brooklyn too. Welcome! Let’s grab a smoke.
  4. Are all bidders legitimate bidders or do we have some agitators hitting on the PM? Still a good discount To market jaja PMing now
  5. I have been watching this topic on the sidelines for a bit in the forum. So here I go with my first hot take. 😆 Cuban cigars were mispriced, deeply mispriced. It is factual based on demand levels, scarcity, and perceived relative quality both tangible and intangible to other origins (ignore quality control point here). Forget the usual quality control chatter, Range Rovers engines are also discussed as shit and they still sell at crazy levels in a similar logic and fashion due to the perceived qualities of product, signaling, etc. albeit Habanos actually preserve and accrue value over time as opposed to Range Rovers. If this pricing is the right one or not, or how this level impacts their quality control (hopefully) for the better and if the new price makes their sales tank, we are about to see. The fact is that Padrón, Davidoff, Fuente, etc. have truly expensive lines doing well enough. apart from us cigar nerds, not many people globally will be able to tell what Padron and Fuente are relative to Cohiba / Montecristo, etc. meaning demand for a Cohiba is more like demand for Ferrari and Hermes (inelastic) than other goods. Probably is much more inelastic than for a Davidoff Royal or expensive Padron / Fuente. Further, my home market Spain one of the highest volume of cigar sales per capita. Vast amount of that volume is coming from people going to the Estancos buying in bulk and arbitraging that demand in China or markets such UK with more expensive prices, or grey vendors most here know well and are much more opaque than how our admired host operates. Estancos for example near the border with France have the highest sales volumes alongside German, UK, etc. tourists heavy locations. Because of that general mispricing being apparent at the country level to everyone. if you are habanos and if your tobacco is the pinnacle of cigar enjoyment, your brands are the globally most appreciated and recognized, and the highest volume markets are actually driven at least partly by people taking advantage of your miss pricing what do you do? You re assess pricing, cause some shock which further redirects supply to wherever most profitable…. Chateua Lafite is mostly going to Asia, so is high end Scotch, etc. Don’t take me wrong, I hate the situation but is only logical they re price their portfolio. We will learn to live in this pricing level…some are already according to 24:24 time to sell out. Some where already according to Bond Roberts reports for key brands vitolas. Question now is if we should hold the Cohiba boxes untouched and sell them for 10x in a few years (relative to what we bought them for).
  6. Big fan of RASS and in regular rotation for ever, RASCC occasionally, Gigantes some times. The Superiores for me has been hit or miss with many more misses than hits
  7. Reyes is irreplaceable for me. I personally would love a substitute, I have not been able to find comfort in the other obvious candidates…and I do like most of them. Open here for suggestions too. Perhaps a forward transition plan as my stock dies out. 🥹
  8. Club Pasión Habanos has a site in Barcelona. Never been. Madrid is a nice one. So assume similar. Good selection. Is a members club, so reach out first over email. Pretty sure is easy and cheap to come in and it’s just about registering freely in the data base. It’s approved by Habanos SA (c/ Espinoi 8-10, Local 1, Barcelona) A bit of a drive, there is a Estanco in VIC (30mins+ drive) out of Barcelona with usually a well curated selection. Been a long time. Call first and ask what’s the stock looking like. Estanc Crivillés +34 938 86 03 08 https://goo.gl/maps/7HSy8gbfP3LvFoXn7 I remember Estanc Duaso and Estanc Bigai being good and well curated. It’s been years so I don’t know any more. Google and contact ahead. In Spain if you buy in a Estanco (which is a government regulated Tabacalera controlled and officially licensed retailer of tobacco products) you won’t have in 90%+ of cases any issues with quality, up keeping, authenticity or prices. Selection is pretty slim now, we have been raiding shelves since the news of changes started to come up and Spain has been receiving less of the Cohiba-Trini and other top vitolas as they favor other higher margin markets. la casa del habano to some point made above, does exist broadly in Spain under a different format (other than Club Pasión Habanos which is somewhat like that but without the retailing other than for on-site consumption) due to regulation. Estancos that are equipped with certain levels and standards, curate a broad / large enough selection and volume are certified as la casa del habano (so they get all the special releases, hard to find, etc) simply are still named estancos and you will find a sticker at the door pretty much. If you filter in Habanos SA site for the La Casa del Habano sites in Barcelona, Mallorca or Ibiza you will find the estancos and addresses. enjoy!
  9. I can tell you his production company Westbrook is definitely leaning on the tragic side of things. Will recover, but not easy on them.
  10. M&A pipeline has slowed down. Most M&A ongoing and financing (equity) rounds being announced now is backlog from last year. Bond market has slowed down too, both in secured and high yield debt. Demand driven inflation now with a supply shock on top…all indicates a reversal…but…until the party stops you gotta keep dancing and it’s unclear who’s going to unplug the music, lots of political capital relinquished on it. I’m bearish 2023 generally but as most…balls deep. Wall Street 2023 I anticipate lay offs. We have been in a 10 year mega bull market. Any bozo was a good investor. Any charlatan a billion dollar entrepreneur. Old $10mm investment is now a $100mm…series A financing rounds are $30mm rounds, pre-IPO mega rounds are at all time highs and literally no covenants. The level of liquidity on the market is still insane and that capital needs to be deployed. 800k jpegs, 30x Revenue multiples, there are at least 30 multibillion dollar unproven economics companies in IPO Que with plans to see H2 2022 as an option (big banks pushing for IPO window then), solidity coders commanding 7 figures with 6month experience in failed concerns. Mortgage issuance down but real estate prices all time high and not slowing down yet. It’s a very confusing time tbh.
  11. Awesome, I’ll try to be there for the weekend on the back of some business. Looking forward to it, will confirm.
  12. I remember the question of what would you take to a dessert island if you had $1,000 only posted middle of COVID by el Pres. My view was a 50cab of Lusis (back then ~$800) and cut them in halves or smaller smokes. Absolutely love it and I wished I could smoke them below 1 hour so I could fire them on every day. Elegant and delicious.

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