An Alcohol Investment With A Lottery Ticket

As I look at the top five hundred or so companies in the world based on size, there are only four or five dozen I can find that could be classified as undervalued at the present moment. And once you remove cyclical companies–particularly the energy stocks–then the list of companies gets even thinner. This isn’t a tragedy, as it only takes one attractive opportunity at a time to put money to use, but it does speak to the homework and research necessary to find companies on sale these days.

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