Jason Galanis
Deep value, hedge fund manager, insider ownership, patents/litigation

Constellation Brands: A Long-Term Sell Amid Historic CA Drought

These are dry days in California. The state is experiencing its worst drought in over a century, with farmers across the state tapping into dwindling groundwater reserves, buying crop insurance, and letting fields go fallow. In January, shortly after Governor Brown declared a state of emergency, the main suppliers of water to California, the State Water Project and the Bureau of Reclamation, shut off the taps for the first time in their history, announcing "zero allocations" of water for 2014.

The era of plentiful, cheap water for California agriculture is over, and vineyards will be the first affected by higher water costs, mandatory conservation orders and depleted reservoirs. Currently, California vintners are tapping into groundwater reserves as an

Join Seeking Alpha PRO to read this archived article and 11,574 other archived articles
FREESA PRO MEMBERS
IDEA GENERATORXExclusive access to 10 PRO ideas every day
INVESTING IDEAS LIBRARYXExclusive access to PRO library of more than 15,000 ideas
SECTOR EXPERT NETWORKXExclusive access to all sector experts for direct consultation
PERFORMANCE TRACKINGXTrack performance of all PRO stock ideas
PROFESSIONAL TOOLSXProfessional Idea Filters to zero-in based on industry, market cap and more
"In just the first month of using PRO, I used it to generate two ideas which were actionable for me. As a result of these two positions, I have earned more than 20 times the annual subscription costs for PRO."Michael Yagemann, Greenbridge Capital
"I am pleasantly surprised with the scope of small and mid-cap coverage PRO offers. You can't find that any where else."Patrick Rice, Mainstay Capital Management
You may cancel at any time for any reason, and receive a prompt refund for membership on months paid and not used (max. 6 months). Details