Great take, thank you! Very interesting & useful!

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Hello Sir

I wanted to Thank you for posting regularly over the last 14 years. I have learnt a lot and I am not sure I can repay you in kind. I hope you keep posting and I hope that I will be able to complete both of your courses and read all of your books in the coming years.

Thanks and Regards


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I see the profit margins for latam before deducting the cost of capital are good. Makes me think that there is strong potential for unlocking value if the region works to reduce its risk profile since much of it might come from the geopolitical and fiscal policy side. But I wonder of higher spread of ROIC-WACC/ ROE-RE its a predictor of higher equity returns...

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