The advantage for the hedge funds in the mortgage market lay in the inefficiency of that market and the lack of such fierce competition as existed in the much larger universe of macro hedge funds.

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Speaking to the BBC, Richard Lloyd of consumer group Which? criticised the opacity and lack of competition in the energy market.

BBC: British Gas vehicle and employee

Those three companies alone would possess about 75% of the U.S. mobile market, but consumers probably don't have to worry much about lack of competition.

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