"I think you can predict the future in a few places best if you understand a few basic ideas that come from a good general education"

I love Munger's speech "Practical Thought About Practical Thought?" where he breaks down his $KO analysis.

https://t.co/1Hmzryb3vl

Touching on part of the IV analysis, TAM analysis is often considered nonsensical in certain value investing circles

Yes, TAM can be twisted around to make any investing thesis look better or worse, just like any DCF, but I found it instructive how Munger thinks thru $KO's TAM