The Warren Buffett Way, 30th Anniversary Edition by Robert G. Hagstrom

Author:Robert G. Hagstrom [Hagstrom, Robert G.]
Language: eng
Format: epub
ISBN: 9781394239856
Publisher: Wiley
Published: 2024-04-23T00:00:00+00:00

The Coca-Cola Company

In 1998, Coca-Cola was the world's largest manufacturer, marketer, and distributor of carbonated soft drink concentrates and syrups. It still is. The company's soft drink product was first sold in the United States in 1886. Today, it is sold in more than 200 countries worldwide.

Warren Buffett's relationship with Coca-Cola, as you recall, dates back to his childhood. He drank his first Coca-Cola when he was five years old. Soon afterwards, he started buying six Cokes for 25 cents from his grandfather's grocery store and reselling them in his neighborhood for five cents each. For the next 50 years, Buffett admitted, he observed the phenomenal growth of Coca-Cola but instead invested in textile mills, department stores, and farming equipment manufacturers. Even in 1986, when he formally announced that Coca-Cola was the official drink of Berkshire Hathaway's annual meetings, Buffett still had not purchased his first share of its stock. It was not until two years later, in summer 1988, that he began to buy shares of Coco-Cola.

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