Episode 3: On airlines, Coca-Cola, intrinsic value, tax reform, and how most people should invest.
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Buffett discusses Berkshire’s $10 billion bet on the airline industry. In a shareholder question, the duo is confronted by environmentalists regarding Coca-Cola’s business practices. Buffett explains how interest rates are critical in understanding the intrinsic value of a business. Buffett fields a question about tax reform and explains how tax cuts would benefit Berkshire shareholders. In more light-hearted moments, Buffett talks about selling his Cadillac to benefit a charity and he explains how he’s advising his wife to invest after he passes away.