A bank siting a branch in an up and coming neighborhood isn’t making a bet on how many 25 year olds it can attract next year, it is making a bet on how many mortgages it will attract from that cohort in about 10 years.
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People also rail against companies when they make long term bets or pool cash waiting for a future opportunity(see Tesla, Apple, Amazon). Maybe the thing the people are railing against isn't short termism at all......
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Consumer banks are not the problem. So yeah, I’ll keep railing against the financial industry.
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