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Berkshire Hathaway Part III
Acquired
Why Buffet Doesn't Like Tex Stocks?
Buffet has a very particular way that he thinks about valuation. He's willing to pay up for very certain futures, which is why he values brands so much. But it's not his style at all to make bets on low probability, very high potential value. The future for coke is mostly going to look like the present for coke.
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