“Someone is sitting in the shade today because someone planted a tree a long time ago” – Warren Buffett.

The last Premium piece of insight for the year couldn’t be about any other hot topic than vertical consolidation.

Initial, related sea/air heavy asset appetite took off in early Q2; later morphed into Q3 fever thanks to Covid-19; and then in Q4 it turned nearly into a fully fledged obsession and depression cycle ahead of 2021 when, you bet, widespread psychotic mania will ...

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