Subject: Re: considering coat tailing OXY
> "What do you think Mr. Buffett likes so much about KO for him to make it a permanent (at least so far) holding?"

I'm certainly no Jim, but I think Buffett has a gut preference for things that aren't complicated. You want a soda and you like the taste of Coca-Cola, and you buy a Coca-Cola. It can fall out of preference, but it has an element of the Mitch Hedberg bit on the donut, "I bought a doughnut and they gave me a receipt for the doughnut; I don't need a receipt for the doughnut. I'll just give you the money, and you give me the doughnut, end of transaction. We don't need to bring ink and paper into this. I just can't imagine a scenario where I would have to prove that I bought a doughnut.".

They're good at what they do, have a durable moat and durable brand equity, and are managed well. You could probably use cans of them for currency in prison if cigarettes disappeared.