Warren Buffett touts his iconic Coca-Cola and American Express bets in his annual letter - and trashes managers who manipulate earnings
, two cornerstones of his roughly $300 billion stock portfolio. Buffett's company originally invested $1.3 billion in the soda giant for a position worth $25 billion at the end of last year. It piled another $1.3 billion into the credit-card titan for a stake worth $22 billion on December 31.
"The lesson for investors: The weeds wither away in significance as the flowers bloom," he said."Over time, it takes just a few winners to work wonders. And, yes, it helps to start early and live into your 90s as well." Moreover, Buffett castigated corporate bosses who take pride in massaging their companies' financials to beat analysts' estimates.
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