The Investing for Beginners Podcast - Your Path to Financial Freedom

Three Listener Questions on Coke vs KO, NVIDIA vs Big Tech, and Selling at a Loss

Jan 15, 2026

The hosts explore the differences between Coca-Cola and its bottler, Coca-Cola Consolidated, emphasizing the importance of distribution in investment decisions. They also compare NVIDIA's valuation to tech giants like Apple and Google, cautioning about the risks of high expectations. In a candid discussion, they detail their reasons for selling Crown Castle, highlighting the impact of management changes and the importance of not letting ego affect investment choices. Clever insights and practical advice abound for those navigating the world of investing!

46:35

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INSIGHT

Bottler Versus Brand Matters

Coca-Cola Consolidated is a bottler/distributor separate from the Coca-Cola brand and has historically been capital intensive.
Since 2020 its ROIC improved into double digits, so dig into what changed before assuming the run rate continues.

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INSIGHT

Distribution Can Be The Real Moat

Beverage industry advantages often come from distribution power, not just brand strength.
Loss of distribution can cripple even popular brands, as the Celsius example showed.

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ADVICE

Analyze Distribution Before Buying

When analyzing distribution businesses, evaluate infrastructure, brand partnerships, and shelf or outlet reach.
Prefer distributors if you value long-term resilience over individual brand fads.

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Listener Q&A Format and Survey

03:30 • 1min

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KO vs COKE: Question Introduced

04:57 • 40sec

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Coca-Cola Brand vs Bottler Economics

05:37 • 4min

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Distribution as a Competitive Advantage

09:11 • 4min

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How to Analyze Distribution Businesses

13:12 • 5min

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Is Now a Buying Opportunity for KO/COKE?

17:50 • 8min

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NVIDIA vs Apple and Google: Question Introduced

25:54 • 27sec

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NVIDIA's Growth Story and Valuation Risks

26:21 • 2min

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Should Investors Prefer Apple/Google Over NVIDIA?

28:01 • 9min

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Why We Sold Crown Castle (CCI)

37:06 • 1min

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Reasons for Selling Crown Castle

Selling Losers and Opportunity Cost

• Mentioned in 2 episodes

Seven Steps to Understanding the Stock Market

Andrew Sather

Want to help us make the Investing for Beginners Podcast even better? Take our quick listener survey at https://einvestingforbeginners.com/podsurvey and you’ll be entered to win a $500 Amazon gift card next month. Bonus: the first 100 respondents also get free IFB swag.

This episode answers three listener questions to kick off the new year. First, Dave and Andrew break down the difference between Coca-Cola (KO) and Coca-Cola Consolidated (COKE)—why the brand/business model matters, what makes bottling and distribution a different kind of investment, and what to look for before assuming a “price drop” is automatically a buying opportunity.

Next, they tackle a common beginner question: how to think about NVIDIA compared to Apple and Google. Finally, they discuss why they sold Crown Castle (CCI) in the Real Money Portfolio—what changed in the thesis, how to think about selling at a loss, and why opportunity cost and ego can quietly wreck long-term returns.

Key Topics Covered

KO vs COKE
Why distribution can be a moat
NVIDIA vs Apple/Google: valuation, expectations, and forward returns
Crown Castle sale
Selling losers

Timestamps

00:01:32 – KO vs COKE

02:06 – What COKE actually is

03:22 – Capital intensity + ROIC differences

005:11 – COKE’s dividend changes + what’s driving the improved numbers

07:19 – Distribution matters: Celsius/Pepsi example + why moats can be distribution-driven

09:41 – How to think about analyzing distribution businesses

16:06 – KO growth expectations vs looking deeper at COKE’s recent performance

18:01 – Brand vs distributor over the long run

22:27 – Apple/Google vs NVIDIA

23:05 – Great company, but priced for huge expectations

29:34 – Valuation risk

30:17 – Why NVIDIA gets the warning vs Apple/Google

33:35 – Why they sold Crown Castle (CCI)

37:48 – Selling at a loss

Resources Mentioned

The Value Spotlight Newsletter: https://einvestingforbeginners.com/value-spotlight-newsletter/

Have questions or want your story featured? Email the show at newsletter@einvestingforbeginners.com or comment below. Your feedback shapes the podcast!

Remember, invest with a margin of safety—emphasis on the safety. Have a great week, and we’ll talk to you next time.

Timestamps are generated by artificial intelligence, and are not 100% accurate depending on the platform used for listening.

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