Warren Buffett：Berkshire Hathaway 1993 Letter, Additional Excerpt 2

Earlier I mentioned the financial results that could have been achieved by investing $40 in The Coca-Cola Co. in 1919. In 1938, more than 50 years after the introduction of Coke, and long after the drink was firmly established as an American icon, Fortune did an excellent story on the company. In the second paragraph the writer reported: "Several times every year a weighty and serious investor looks long and with profound respect at Coca-Cola's record, but comes regretfully to the conclusion that he is looking too late. The specters of saturation and competition rise before him."

Source： https://www.berkshirehathaway.com/letters/1993.html
Locator：1993 Chairman's Letter, additional excerpt 2 · Verified：2026-10-19 · Verification：Short excerpt

版权仍存续；仅摘录并链接伯克希尔官网原文，不托管全文。

This text is still in copyright. Only a short excerpt is shown; read the full text at the official link above. Copyright

← Back to the library