@Land_of_the_losers I agree with you enough to have put money there in the last few months, then done it again as the price dropped.

Its not a totally safe bet and part of me is uneasy about it in that it is essentially selling overpriced poison. These premium brands do not present real value they are just part of the emperor's new clothes -its just poison in shiny bottles. But I have bought in anyway. That lets me give my misgivings with fair balance.

What makes me uneasy is that an old pal of mine was recently made redundant by Pernod -Diageo's rival. They were cost cutting. The premiumisation thing didn't bring as much profit as they hoped. My pal suspects that the whisky bubble may burst soon. He suspects truly premium -not overvalued stuff or dressed up poor quality stuff will be ok. This does represent some of diageo -like their premium distilleries. I have cases of Lagavulin 16 and Talsiker 18 bought in 2021 when Diageo's premiumisation thing was a whisper. I bought them before they raised the prices. I hope to sell them for a good profit but I am not certain. Then there is stuff like Guinness, Smirnoff and captain morgan. Its not really anything special, its a good name kept good by a lot of expensive advertising. The rich will (hopefully) continue to buy Talisker 18 year old to sip while they view their red stag trophies, even if they stop paying silly money for Macallan but the ordinary people might buy a generic stout, vodka or rum for a piss up if they get hit too hard by taxes to feed big state in coming years.

A long term head stepped down with Diageo and if I remember right they appointed a woman. That was disappointing.

Lets hope we are both right with Diageo. People like poison and Diageo serve it up with style. So long as they remain rich and dumb enough to buy it, Diageo is a sound undervalued business.

@Land_of_the_losers and you don't think that all the information is in the price already?

There's a great phrase in poker - if you don't know who the patsy is at a poker table, it's you.

Retail investors who think that they can just read financial statements and then make informed decisions are like rabbits to to the fox - the fox being the pros. And the thing that makes the rabbits weak is that they think they can outsmart the foxes.

Retail investors lose money on aggregate, and this keeps the foxes fat.

Honestly, do you really think you can outsmart a room full of traders, with degrees in maths? Do you think there is any information in a P&L or balances sheet that they haven't seen ages ago?

I recall trying to explain insider trading to a swiss banker about 25 years ago...and his reaction was hilarious....He sort of screwed up his face and asked 'but how else are we going to know what to buy?'

There is really no point in investing in anything other than an ETF of the entire exchange.

I'd like to offer a thought about an investment that I have made, and one that I will continue to make.

I'm not one to treat the stock market like a casino: it involves a lot of research. My dad (among other things) has a solid background in accounting and one of his hobbies is pouring-over financial statements. The man can look at a page of numbers, size-up how much money is going in, how much money is going out, and make an investment recommendation that basis. One of his close friends is a broker and, as a kid, I remember going over to his house to go swimming in the summer while the dads talked business.

That being said, my dad admits that his record is probably no better than average and he invests rather conservatively. But I will go to him from time to time with an investment possibility, show him the facts and weigh his advice. Neither he nor I am "get rich quick" kinds of investor, we're more of the "get rich slowly" type. Needless to say, I wouldn't put real money on a stock without running it by him and, with his lifetime of experience, he says this is a decent buy.

So, free of charge to all of you, I'd like to share a stock tip: Diageo (DEO). It's one of the world's biggest distillers and brewers, owning major brands like Guinness, Tanqueray, Captain Morgan, Crown Royal, Smirnoff, Ketel One, Seagram, Bailey's and Johnnie Walker (items which no decent bar or restaurant can be without). Their growth segment over the past few years has been tequila, and their long-term marketing strategy has been leaning-in to the premiumization of their brands. As expected, it pays a reliable dividend.

I bought a bunch of shares a few months ago and it's still been dropping, I might buy more soon. In the long run, I have a good feeling about this one.