When I returned from my last trip from Sao Paulo – seemingly a Covid decade ago, but actually almost a year to the date – I caught up with a crusty, no-nonsense and highly successful global private equity friend. “Welcome home from the greatest next big opportunity for the last three decades!” He paused and winked at me, “There is nowhere on earth I’ve lost more money than Latin America. So tell me why you think this time is different?”
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