Coca‐Cola is justifiably famous for its brand name and its global marketing efforts. Its success, however, is heavily dependent on what happens in the non‐U.S. markets it has increasingly penetrated. If foreign economies slow, Coke’s sales will be hurt. Furthermore, Coke must be able to convert its foreign earnings into dollars at favorable rates and repatriate them. Therefore, investing in Coke involves betting on a variety of global events.