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Neal Freiman

👤 Speaker
23912 total appearances

Appearances Over Time

Podcast Appearances

Morning Brew Daily
Wall St. Shook By ‘Sell America’ & BlackRock’s CEO Says Capitalism is Not Working

I know.

Morning Brew Daily
Wall St. Shook By ‘Sell America’ & BlackRock’s CEO Says Capitalism is Not Working

This industry is really on the rocks right now.

Morning Brew Daily
Wall St. Shook By ‘Sell America’ & BlackRock’s CEO Says Capitalism is Not Working

No, you can't laugh.

Morning Brew Daily
Wall St. Shook By ‘Sell America’ & BlackRock’s CEO Says Capitalism is Not Working

I guess the good news for people who still drink, which is a dwindling number, is that appears that a price war is coming because if you're sitting on so much inventory, you're sitting on inventory that's worth your entire company, you're going to have to cut prices to get people to buy this thing.

Morning Brew Daily
Wall St. Shook By ‘Sell America’ & BlackRock’s CEO Says Capitalism is Not Working

So let's just look at Hennessy.

Morning Brew Daily
Wall St. Shook By ‘Sell America’ & BlackRock’s CEO Says Capitalism is Not Working

Hennessy was priced at about $45 a bottle in the United States, but since they've cut it to about $35, so if you are a scotch collector or you like fancy tequila, expect prices to come down because

Morning Brew Daily
Wall St. Shook By ‘Sell America’ & BlackRock’s CEO Says Capitalism is Not Working

You know, things are turning in your favor with all this inventory sitting around.

Morning Brew Daily
Wall St. Shook By ‘Sell America’ & BlackRock’s CEO Says Capitalism is Not Working

Which is why some analysts are saying, I think it's a mistake for you to cut back production now.

Morning Brew Daily
Wall St. Shook By ‘Sell America’ & BlackRock’s CEO Says Capitalism is Not Working

And they are cutting back production.

Morning Brew Daily
Wall St. Shook By ‘Sell America’ & BlackRock’s CEO Says Capitalism is Not Working

Jim Beam's main distillery is stopping to make whiskey for an entire year at least.

Morning Brew Daily
Wall St. Shook By ‘Sell America’ & BlackRock’s CEO Says Capitalism is Not Working

And some people look at that and say, you are actually responding too much to the short term trends and not looking

Morning Brew Daily
Wall St. Shook By ‘Sell America’ & BlackRock’s CEO Says Capitalism is Not Working

To the long term, of course, we don't know whether drinking whiskey or scotch or things like that will actually come back, but it could.

Morning Brew Daily
Wall St. Shook By ‘Sell America’ & BlackRock’s CEO Says Capitalism is Not Working

And if so, you're going to have the opposite problem of what you have now with a huge inventory shortfall.

Morning Brew Daily
Wall St. Shook By ‘Sell America’ & BlackRock’s CEO Says Capitalism is Not Working

I feel like for Guinness is like a complete meal for me, but I am part of that.

Morning Brew Daily
Wall St. Shook By ‘Sell America’ & BlackRock’s CEO Says Capitalism is Not Working

I never drank Guinness before the last couple of years.

Morning Brew Daily
Wall St. Shook By ‘Sell America’ & BlackRock’s CEO Says Capitalism is Not Working

And then maybe I was influenced by Instagram, but I started drinking and I was like, this is actually...

Morning Brew Daily
Wall St. Shook By ‘Sell America’ & BlackRock’s CEO Says Capitalism is Not Working

Pretty good, and I've noticed a bunch of my friends also doing the same.

Morning Brew Daily
Wall St. Shook By ‘Sell America’ & BlackRock’s CEO Says Capitalism is Not Working

Okay, let's run to the finish with some final headlines.

Morning Brew Daily
Wall St. Shook By ‘Sell America’ & BlackRock’s CEO Says Capitalism is Not Working

If you live in a swath of the American South from Texas to the Carolinas,

Morning Brew Daily
Wall St. Shook By ‘Sell America’ & BlackRock’s CEO Says Capitalism is Not Working

This weekend is going to be a doozy.