Investor Presentaiton

Key strategies that worked for us Through the years, selective stock picking paid off: - Competition trumps growth - Dominance over distribution makes for the deepest moats - Understand the macro but don't over emphasize its importance - It pays to think long term when everybody else is momentum-driven - Good businesses may turn out to be bad investments if interests are misaligned So, it's not so different after all DYNAMO Administração de Recursos

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