About this series:
Investors do as they do for lots of reasons. To make money, of course, but investing is challenging, rewarding frustrating and fun. Of the millions of hours of finance-focussed broadcasting out there, not one holds up a mirror to life as an investor. Welcome, then, to iBall.
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About this episode
Nov 17, 2008
03:21
Learning
There are those of you who think booze manufacturers are classic defensive stocks. There are others who think that sentiment has already been priced...
There are those of you who think booze manufacturers are classic defensive stocks. There are others who think that sentiment has already been priced in.This theory comes around on the grounds that the more depressed people are, the more they will drink.We think Diageo is a great stock because of its discipline. This means that it only sells premium brands - to the people who are the most depressed, presumably.
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