Subject: Re: Coke
...Three of them we bought were already higher than the $1 billion mark...

Acquisitions are fine. But even so, Coke's top line real revenue has fallen at -1.72%/year in the last decade. Total real net profit is up around 1.5%/year.

The numbers look better on a per share basis, but in that view you can't count the money spent on buybacks as part of owner earnings.

They're not going anywhere, which counts for a lot, but the beverages are more bubbly than the business.

Jim