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Chris Davis - A Multifaceted Perspective on Financial Services

Value Investing with Legends

CHAPTER

Inertia and Regulation - What Are They Doing in the Banks?

Customer retention of the traditional bank is as high as a cosco or a netflick subscription. They've pulled that into the corp franchise such that they are now larger and more profitable than they were 20 years ago, 30 years ago. So there's something about the structure of inertia. And then there's regulation. We're talking about payment systems as the rist to day, but three years ago, we wouldhave talked about pier to pier lending. What are these banks doing in the middle? Anyway, somehow regulation gets involved,. especially when you're dealing with ant financial in china.

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