Why Can T I See All My Friend S Facebook Posts When I Go To Their Timeline

I looked at his Timeline from another account (who is friends with him) and I see that there are lots of posts on his Timeline that the privacy settings are “friends of friends.” How is it that I can’t see these things? Clearly we are Facebook friends. He insists that it must be my settings and not a problem on his end, but I don’t see how that is possible.

The question is: Can you set your privacy settings to “friends of friends” and still exclude individuals? Because if you were to exclude individuals, your settings would then be “custom.”