With over three dozen stocks in Berkshire Hathaway's (NYSE: BRK.A)(NYSE: BRK.B) portfolio, there's one company that Warren Buffett clearly has an ongoing love affair with because he's owned it for over 30 years and says he will never sell it: Coca-Cola (NYSE: KO).

Buffett certainly knows a thing or two about making himself and his investors rich. Since 1965, Berkshire Hathaway has generated average annual returns of 20%, or almost double what the S&P 500 has achieved in the same time.  The key to his success has been his ability to identify a business' key competitive advantages that can be replicated for years to come, buy the stock, and then hold on to it for years. One of the Oracle's most famous quotes is, "The best time to buy is whenever you have money; and the best time to sell is never." 

Although not even Buffett strictly follows that advice, his purchase of Coca-Cola stock highlights the idea and underscores why the soft drink maker comprises almost 8% of his holdings. It's well known that Cherry Coke is the billionaire investor's drink of choice, but here are a few of the reasons he loves the company.

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Source Fool.com