We have heard the term many times and from many sources. So, the question is " Is soda best of breed ? But I poise the questions. 1/ is the carbonated segment of beverages B O B. 2/ is the beverage segment of groceries B O B? 3/ Are groceries as part of consumer spending BOB? 4/ Are stocks that are dependent on consumer spending B O B? IMHO there too many "no's for my mind, least of all with SODA. Let the market decide. Right now only 2% of my portfolio is with soda.