The following video is part of our "Motley Fool Conversations" series, in which consumer goods editor/analyst Austin Smith and technology and media editor/analyst Andrew Tonner discuss topics across the investing world.

In today's edition, Austin helps investors answer the question: Which company is a better buy today -- General Mills or Kellogg? On paper, both companies are strikingly similar. They compete most closely in the fiercely competitive ready-to-eat cereal segment. With Ralcorp spinning off its Post brand, the industry is only heating up. Ultimately, Austin gives the nod to General Mills for its portfolio diversity and incredibly strong position with its Cheerios brand.