As always, Donald Yacktman indicates he is focused on the long term, not short-term events. In his words, “We can’t control the wind, but we can set the sails,”
He likes Pepsico (PEP) over Coca-Cola (KO) at this point simply because of valuation.
Also likes News Corp (NWS) because of valuation, and isn’t terribly worried about the controversy surrounding the company.
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It was a terrible interview. The crew at CNBC didn't know how to ask the right questions...