Hershey: King Of Chocolate

About: Chocoladefabriken Lindt & Sprüngli AG (COCXF), HSY, LDSVF
by: Joseph Harry
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Joseph Harry
Value, growth at reasonable price, long only, contrarian

Hershey and Lindt & Sprüngli both sell chocolate, but that's where the comparison stops.

Does a conservative balance sheet outweigh the benefits of more leverage?

Inferior products can still lead to higher margins and better profitability - illustrating why a moat is of utmost importance for excess profits.

The Hershey Company (HSY) and Lindt & Sprüngli (OTCPK:LDSVF) (OTCPK:COCXF) both sell chocolate, but after that, the similarities end. While Hershey dominates the US market - offering what I'd