Some people may frown upon the ‘incorrect’ way of holding a wine glass but there really is only one thing to keep in mind. While using a wine glass with a stem hold it by the stem and never by the bowl.
This is primarily for 3 reasons (looking fancy is not on the list, though it may be the top reason for this ‘etiquette’).
1. To maintain the temperature of the wine. If we hold the bowl, it warms up the wine.
2. To avoid finger stains on the glass. It becomes difficult to clean them.
3. Makes swirling easier. Remember we need to swirl the wine to bring out its aromas!
You can hold the stem by the base, in the middle or near the bowl, it simply depends on what you are comfortable with.

Of course, these rules don’t apply to stemless wine glasses (yes, there are many and they are great!). So, in the end, it comes down to you. Don’t let anyone tell you how to enjoy the wine.

If you haven’t tried the stemless glasses yet, do give them a chance. They are super-convenient, dishwasher friendly, fit in the cabinets, and can double up as rock or cocktail glasses too.
Cheers!!