I tend to invest like many others in stocks we understand and...

I tend to invest like many others in stocks we understand and like. I do like EDV and think that medium term to long term they will be fine.

They are a big business and many within have great experience. Looking at a business as a manager or executive employee is very different to looking at a business as a shareholder or just someone interested. Well before now I started to notice bottles with a lot of dust, very slow moving stock. They also cellar a good amount of wine. They have a lot of product that I have never heard of, sure I don't know all spirits and obscure labels and styles but they hold these slow moving SKU's in almost every store.

No doubt a focus on sharing these around the stores and having a focus on clearing and reducing these lines has got to be a focus. There must be 10's of millions in this stock that could reduce debt within months.

Someone smarter than me calculated that it costs retailers between 1-2 % to hold stock after the account is due each month there after.

Retailers make money by turning over stock as often as they can.

The best thing they do is the private label products and the ownership of many vineyards and wine brands, these produce margin.

I still like EDV but they have room for improvement in retail. I do not have the same understanding of there hotels business and would like to hear others thoughts.