Mug_Ruith2369

Dude, he’s just saying work hard. Get in earlier and leave later.

So, you're playing defense. Anecdotally, I would say the the higher end stuff is less likely to lose share. It is the corona, coors, and bud light that will lose sales. Spirits and wines are more insulated. My newest thesis is to buy scotch and if the price doesn't go up, i get to drink it.

Interesting paper addressing your concerns:

"We find that marijuana and alcohol are strong substitutes. Counties located in MML states reduced monthly alcohol sales by 13 percent, which is a consistent finding across several empirical specifications. In fact, when we focus our analysis to bordering counties only, we find that those in MML have lower a reduction in monthly aggregate alcohol sales of 20 percent, with comparable results for beer and wine. Interestingly, this latter result is larger compared to the main full-sample results."

Source: https://papers.ssrn.com/sol3/papers.cfm?abstract_id=3063288

Mario, have you spent any time analyzing the CBD industry? I’ve tried to ignore it as another “tulip” fad but looking into a certain Beverage company with exposure has lead me down a rabbit hole. I’ve begun to look at the possibility of the CBD market through value glasses. I think there are a few key details that may make it cheap- government regulation risk, lack of analysts, misunderstood (viewed as recreational not wellness), institutional unwillingness to invest.

Not to lose the opportunity for career advice- if you could recommend one part time gig to us what would it be?

Career advice: Pray to work for Langone or Cooperman

Great, put in a call for me? I have extensive back office experience. But really, thanks for the reply. Currently begging my office to add a small cap fund to our 401k.

Had one glass in my life. More of a Lagavulin guy- I like my peat