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Osborne cited a substantial growth in U.K. childhood obesity as a catalyst for the tax, which the British government intends to impose in two years. Many other countries are also considering similar moves.
Coca-Cola is a darling for Warren Buffett, but faces plenty of headwinds in addition to today's British tax announcement. Stated simply, it's an Old Economy company with a limited runway for growth.
Still, my new KO short position is small -- at least for now.
I still like junky credit!