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Colombia Not Columbia…

Colombia Not Columbia... by Adventures In Capitalism

So, I was sitting in the Plaza De Los Coches in Cartagena, Colombia. It was past midnight, but still 95 degrees with an asphyxiating humidity that I have yet to experience in Miami. Fortunately, I had a cold beer in hand and was surrounded by good friends. In any case, I was transfixed by the parade of drunken tourists, prostitutes and the awkwardly comical pollination of the two. Yes, for over four centuries, despite revolutions, plagues, endemic crime, pirate induced destruction and a whole host of other calamities, Cartagena has carried on in much the same way—pure spectacle—travelers and prostitutes, money and drugs, all passing through its prized port. Hong Kong is the gateway to China and before the Panama Canal; Cartagena was the gateway to most of South America with its gold, silver and other riches. There is indeed a reason why the Spanish built the largest fort in the Americas overlooking Cartagena.

Historic Cartagena

As always, my focus was on the opportunity here. While Pablo Escobar’s ghost lingers over all of Colombia, my friends and I continually spoke about the peace dividend and the re-birth of Colombia—but what did that really mean? Sure there was opportunity. All around us, we saw signs of construction and rebuilding, but this was still Latin America—the spirit of mañana encompasses everything—including my ability to get served another beer.

“So Kuppy, name me one product pioneered in South America—one South American company that dominates its field globally?”

I took a deep sip of my beer and realized I needed a whole lot more time. Sure, the boys at 3G Capital have created huge conglomerates, but that’s just cost cutting and financial engineering. There are massive banks and retailers, but they mostly copy US models. There are plenty of commodity exporters, but that’s not...


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