But is it a buy?
I think these things move in cycles. I was listening to a recording of the 2005 Berkshire AGM in which Buffet was talking about how the beer industry was taking share from spirits. It'll likely swing back that way at some point.
Perhaps. But that feels like a tough thing to bet on.
Also a matter of timing. Are you prepared to wait 10 years for the market to turn? Probably not.
I think these things move in cycles. I was listening to a recording of the 2005 Berkshire AGM in which Buffet was talking about how the beer industry was taking share from spirits. It'll likely swing back that way at some point.
Perhaps. But that feels like a tough thing to bet on.
Also a matter of timing. Are you prepared to wait 10 years for the market to turn? Probably not.