"I'm so naive about finances. Once when my mother mentioned an amount and I realized I didn't understand, she had to explain: 'That's like three Mercedes.' Then I understood."

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Profit margins are probably the most mean-reverting series in finance, and if profit margins do not mean-revert, then something has gone badly wrong with capitalism. If high profits do not attract competition, there is something wrong with the system and it is not functioning properly.

— Jeremy Grantham