As leveraged assets go down in value, the leverage multiples go up. Adding to that multiple is the falling dollar and the fact that these assets are in reality debt deposits, not cash deposits, that were passed on in different forms to be leveraged over and over.
Are you sitting down? Good. Because if you hadn't heard, Manischewitz—famed maker of Passover matzoh—didn't make their legendary Tam Tam crackers this year. Citing a mechanical malfunction, the company apologized to consumers of the famed snack. So what's the big deal? Well, as it turns out, kosher food is a booming business with no indication of slowing down. Plus, no Tam-Tams at Passover is like Easter without Ham…hams.
Kosher food is a $10 billion a year industry that is growing at 15%. Meanwhile, non-kosher food is growing at only 4%. All the major players, from Kraft (KFT) to Coca Cola (KO) offer kosher products. Hell, even Bacos--made by General Mills' (GIS)--is kosher.
So while Passover's over, don't expect to see a shortage of food products with a little 'k'. As Hoofy and Boo discover, anyone can get in on the kosher action.
Cory Bortnicker is an Editor at Minyanville Publishing & Multimedia, LLC.
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