Jim-
Certainly no disrespect but you and Mr. Buffett seem to look at KO differently. What do you think Mr. Buffett likes so much about KO for him to make it a permanent (at least so far) holding? Obviously, there is something that he finds attractive for him to have initially invested and never sold a share.
He has sold solid chunks of AAPL and BAC but KO remains a stalwart holding.
I'm guessing it's maybe the moat, solid free cash and a dividend that grows every year, all great qualities in a company.
Certainly, he looks at the financials and sees that growth is anemic but yet no selling of shares.
Maybe it comes down to this quote by Mr. Buffett:
"I'd rather be certain of a good result than hopeful of a great one." But is it even a good one??
As a small aside when I went to the AGM in 2001 someone from the audience asked him why him why he didn't sell KO back in the late '90's given its very lofty valuation. His answer was (paraphrasing):
"When you are the largest shareholder, and you sit on the B.O.D. it's just not that easy to sell shares..."
But that was 23 years ago, and it has been quite a few years since Warren, or his son Howie has served on the board.