Place rum, Amaro Montenegro, vermouth, and bitters in a cocktail mixing glass filled with ice. Stir until very well chilled, about 30 seconds. Strain into a rocks glass filled with ice. Top with grapefruit peel twist, and serve.
1 1/2 ounce rum
1 ounce Amaro Montenegro
1 ounce sweet vermouth
1 dash grapefruit bitters