Well, okay. These industry behemoths produce enough wines at various price levels that they are probably well insulated against the vicissitudes of a recession. If consumers are indeed “buying up” over what they were willing to pay a year or two ago whether in retail stores or restaurants I would like to hear about it.
Scott said this is a really great company, but he doesn’t know how much lower interest rates can go in order to make the stock head higher. Many of its shareholders are short because they feel the stock has run up too far, too fast. But Price said when a stock is running up and everyone is worried, that’s when it can become a bigger winner.
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