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We learned everything at Banco Garantia. It was not a bank. It was a war school for capitalism.
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Give equity to your best people and they will build the company for you. It is the cheapest and most powerful incentive ever invented.
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Lojas Americanas taught me that execution beats strategy every single time. A mediocre strategy perfectly executed beats a perfect strategy poorly executed.
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Distribution is everything. The company that gets its product to the customer fastest and cheapest wins in the long run.
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The store is the classroom. You learn more in one day visiting stores than in a year reading spreadsheets.