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The banks in Brazil were making 30% return on equity every single year for decades. They were the most profitable banks in the world. And the reason for that was they had an oligopoly — five banks controlling 80% of all deposits in the country, and there was just no competition.

— Invest Like the Best with Patrick O'Shaughnessy
2w ago

Big tech rivals have long tried to supplant Apple but so far Google, Samsung, Meta Platforms, Microsoft and Amazon.com have all failed. It is crazy. People think, you know, okay, Android was successful but captured like onetenth of the actual value because the margins on Android devices are so much lower, but you forget that Jeff Bezos stood on stage and said, "We're launching the Amazon Fire phone and we're going to win."

3mo ago

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