The Brazilians missed a succession of gilt-edged opportunities over the course of the game in La Paz, much to the frustration of their boss
The Brazilians took the lead just 10 minutes into the game in La Paz through Henrique but Ernesto Cristaldo equalised with half-time looming before Rodrigo Ramallo plundered a late winner for the hosts, leaving Ramalho disgusted with his side's profligacy.
"We had several chances and didn't kill the game off," the Santos boss is quoted as saying by Globoesporte.
"We missed many chances to score. We created a lot of chances and did not take them.
"Football does not change: if you do not kill, you die."
It was suggested that Santos had simply run out of steam because of the high altitude but Ramalho was making no excuses for his side's failure to win a game that they dominated for long periods.
"Even with the difficulties we had, we should have won," he argued. "The altitude really was not an issue, because we created a lot. And a team like ours has to kill the opponent off."
Santos' next Copa Libertadores outing comes at home to Internacional on March 8.
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