Gabelli: I'm investing in bourbon

There were more than 1 million barrels of bourbon produced in Kentucky in 2012, more than double what it was in 1999.

By MSN Money Partner Oct 4, 2013 8:45AM

CNBCBourbon barrels in Lexington, Ky. (© Richard Cummins/Getty Images)By Cindy Perman

 

Warren Buffett said the markets are fully valued and that it's hard to find value right now.

 

Mario Gabelli said Wednesday on CNBC that he's found value in …bourbon!

 

"[W]e have a slogan: If you drink it, we follow it," Gabelli said on on CNBC's "Fast Money Halftime Report." "We are looking at bourbon plays around the world."

 

Indeed, bourbon production—and consumption—is on the rise. In Kentucky, where 95 percent of the world's bourbon is made, bourbon production has soared. There were more than 1 million barrels of bourbon produced in Kentucky in 2012, more than double what it was in 1999, according to the Kentucky Distillers' Association.

 

In fact, in Kentucky, there are more barrels of bourbon than people. Last year total inventory reached 4.9 million barrels; by contrast, there are 4.3 million people.

 

Among some of the bourbon names Gabelli said he's investing in are Italy's Campari, which owns Kentucky bourbon maker Wild Turkey, Jim Beam and Brown-Forman, which makes several bourbon brands including Jack Daniel's, Woodford Reserve and Old Forester.

 

"We look everywhere," Gabelli said.

 

More from CNBC

3Comments
Oct 4, 2013 11:21AM
avatar
I invest in Bourbon every week along with 7-up or Orange Juice.
Oct 4, 2013 9:54AM
avatar

Bourbon Whiskey can only come from ONE PLACE in the World..

 

Bourbon County Kentucky, United States of America..

 

Made anywhere else, it is not Bourbon....Only Whiskey.

Oct 4, 2013 2:59PM
avatar
I like Blended or Straight....Don't matter what we mix it with....If we do.
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