It's expensive, but it's important for them to get over this and get on with their business. It will lift a cloud on the company, but not for Hank.

Brown-Foreman has kept its portfolio relatively simple and its ambitions broad by focusing on these markets in Europe.

Investors are unable to get a clear view on 2006 because there's so much noise in the numbers. There's the competitive environment in Spain, there's the impact from Kraft activities and there were currency swings. It doesn't in any way impact the progress made on the domestic product.

He has had on occasion specific investments in foreign stocks, but this is different. He doesn't sound like he's making one-off purchases.

Kraft is a work in process. They're transforming their portfolio and working on scale issues internationally.

Warren comes complete with three skills: a consummate investor, a superb businessman and a great cheerleader.

It's a delicate game of strategy right now.

I think they're going to pay attention to it, but it's not the final word.

It lifts the burden of litigation fears from the share price.