I don't quite understand the phrase in bold: "This is a very high scoring wine from what will certainly prove to be in the top three vintages of all time," he said. "At the moment, we are talking to a lot of people about positions on Lafite because prices have come down so far it really looks like there is a very considerable upside."

source: http://www.cnbc.com/2016/08/10/wine-investing-may-be-your-tipple-of-choice.html


In this context, a position is a financial term:

A position is the amount of a security, commodity or currency that is owned (a long position) or borrowed and then sold (a short position) by an individual, institution or dealer. A position can be profitable or unprofitable, depending on market movements. The practice of restating the value of a position based on its current value is called mark-to-market.

So positions on Lafite means investing money in Chateau Lafite wine- one of the elite premier grand crus - first growth clarets. It may well be a good investment opportunity:

Recently the 2008 vintage produced a worldwide increase in price of over 125% in 6 months from release, which in turn has come to push some Asian countries to the top of the list of worldwide markets in which investment grade wine is purchased.

Buying wine and then selling it again six months later with a 125% increase would definitely count as a profitable position.

  • I took it as "futures positions" (i.e., the number and the price of contracts) at first, but after reading Jim Reynold's comment, I think his interpretation makes more sense. This positions is not a technical term (though it may be used to allude to the term), as far as I can tell. – Damkerng T. Aug 12 '16 at 8:04
  • @DamkerngT: Contracts only come into futures positions, which are not mentioned here. For positions, which are mentioned, the definition I quote is "The amount of a security, commodity or currency that is owned ... by an individual, institution or dealer". So they are talking to a lot of people about owning Lafite.. and in this context it is clearly as an investment, so the usage of a financial term to describe it is appropriate. – JavaLatte Aug 12 '16 at 9:04

The jargon used here is that of financial investments.

In finance, a position is the amount of a stock or commodity that is owned. Lafite is the name of a famous fine wine. So, the person means.

"We are talking to a lot of people about purchasing an amount of the wine called Lafite as an investment (not to drink) because we think it is quite become cheaper recently, and has the potential to become much more valuable in the future"

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