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Coca-Cola is one of the strongest brands in the world if not the strongest. Virtually everyone recognizes the brand regardless of age, location, or interests. But, despite the strong legacy of Coca-Cola, they haven’t been doing all that well over the past 20 years. In fact, Coca-Cola stock has barely grown over the past 20 years, and the growth actually loses to the S&P 500 and even inflation. At first glance, you may be driven to think that this is mainly due to Coca-Cola becoming a mature company and not having much headroom. But, this is not exactly true given that Pepsi has been killing it. In the past 20 years, Pepsi has grown multiple folds and is on the cusp of taking over Coca-Cola altogether in terms of market cap. So what happened to Coca-Cola? Well, usually, these sorts of delines can’t be linked to a singular event, but in the case of Coca-Cola, they can be. The reality is that the entire growth of Coca-Cola can be explained by a singular man: Roberto Goizueta. Ever since this man died, Coca-C
