🥤 Coca-Cola is highlighted as one of the large, highly profitable companies in which Berkshire Hathaway holds a significant stake.
💰 These companies generate high returns on tangible net capital required for their operations.
🎯 Buffett emphasizes the appeal of owning fractions of exceptional businesses that are rarely available in their entirety.
📈 Moody's is identified as one of the highly profitable companies in which Berkshire Hathaway owns a portion.
🎯 Buffett appreciates owning fractions of exceptional businesses available on Wall Street.
⭐ These companies are noted for their high returns on tangible net capital.
💳 American Express is cited as one of the major companies in which Berkshire Hathaway maintains a stake.
⭐ These companies are characterized by high profitability and returns on tangible net capital.
🤝 Buffett highlights the strategy of investing in fractions of exceptional businesses available on Wall Street.
🍺 Constellation Brands, a producer and seller of beer, wine, and spirits, is a new addition to Buffett's portfolio.
📉 The company's stock experienced a 20% drop this year, though Buffett's purchase occurred before this decline.
🇺🇸 The majority (98%) of Constellation Brands' sales are in the United States, with beer accounting for 82% of sales and wine/spirits for the remaining 18%.
📊 Berkshire Hathaway owns a small percentage of several large, highly profitable companies.
🍎 These include well-known names like Apple, American Express, Coca-Cola, and Moody's.
📈 Many of these companies achieve very high returns on the tangible net capital required for their operations.
💎 Small fractions of these outstanding companies can be bought on Wall Street, occasionally at bargain prices.
