Mark Grammer Pernod Ricard SA RI-FRA TOP PICK Apr 02, 2013

(Top Pick Sep 26/11, Up 46%) Thinks product is excellent. Jamison’s Whisky is the highest growing category in US and is selling in China also. Would think he can get the upside of his earnings growth. 10-15% range, maybe even higher. Over 3 years if he can get those kinds of returns he would be very happy. Revenue from China is in the mid 20’s

(A Top Pick Sept 26/11. Up 37.26%.)

(A Top Pick August 9/12. Up 3.64%.) Still likes this one. The slowdown in China is hurting this company.

(A Top Pick April 2/13. Down 10.71%.) Very fond of this company. Sold his holdings last August after a trip to China when he felt that growth was going to be stifled for some time. Noticed that in the higher end restaurants and bars, activity had decreased dramatically. New leadership wants corruption ended so gifting and entertainment is coming down.

An international drinks company. These companies are typically secular outperformers - year after year after year. This was a top pick of an analyst he saw in Europe in November. Near term risk: expensive liquor is not able to be used as bribes in China any longer.