On today’s episode, Kyle Grieve chats about one of the most iconic businesses in history—Coca-Cola—and explores its enduring competitive advantages, its remarkable turnaround under CEO Roberto Goizueta, and what Warren Buffett saw that made it one of Berkshire Hathaway’s most legendary investments. Kyle unpacks why Coke’s brand power, global distribution, and intelligent capital allocation have helped it dominate for over a century and why understanding this story can help you spot other life-changing investments.
IN THIS EPISODE YOU’LL LEARN:
00:00 - Intro
02:03 - What gives Coca-Cola four enduring edges over competitors worldwide.
08:04 - A brief overview of Coca-Cola’s two primary business segments.
09:38 - Why Goizueta’s personality reshaped Coca-Cola’s future in unexpected ways.
11:14 - What makes Coca-Cola’s brand unforgettable across cultures and decades.
25:16 - The unique metric Goizueta used to unlock hidden value.
27:12 - What Warren Buffett saw before betting big on Coca-Cola.
39:40 - A mental model experiment Munger used to gauge Coke’s potential.
48:48 - How inversion revealed Coca-Cola’s moat through Charlie Munger’s lens.
50:03 - The real story behind Coca-Cola’s infamous recipe change.
55:43 - Why Coke’s scale and network keep competition permanently outmatched.
And so much more!
Disclaimer: Slight discrepancies in the timestamps may occur due to podcast platform differences.
BOOKS AND RESOURCES
- Join Clay and a select group of passionate value investors for a retreat in Big Sky, Montana. Learn more here.
- Join the exclusive TIP Mastermind Community to engage in meaningful stock investing discussions with Stig, Clay, Kyle, and the other community members.
- Buy I'd Like the World to Buy a Coke here.
- Buy The Warren Buffett Way here.
- Read Charlie Munger’s $2 trillion Coke hypothesis here
- Follow Kyle on X and LinkedIn.
- Check out all the books mentioned and discussed in our podcast episodes here.
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