Big Buy Of Coke From Barry Diller (KO)

Barry Diller just made a large purchase of Coca-Cola (NYSE: KO) and perhaps it's time to consider Coke as an investment.

Diller bought 270,000 shares on 11/11, at a price of $62.59. Shares closed today at $62.08.

If you can purchase the world's preeminent brand at a price lower than one of its board of directors, then it is definitely something worth thinking about. Coke is the most recognizable brand around the world, and that kind of brand cache can't be calculated. It's priceless and unquantifiable at the same time.

Coke isn't cheap at these levels, trading at 16 times next year's earnings, but it is yielding 2.8% and for the longer term investor whose time frame is more than 30 seconds, buying alongside one of the company's directors could potentially pay off in a big way for shareholders.

Disclosure: no position in KO