- Equity Portfolio Manager
- About Us
- My Account
The views expressed are those of the author at the time of writing. Other teams may hold different views and make different investment decisions. The value of your investment may become worth more or less than at the time of original investment. While any third-party data used is considered reliable, its accuracy is not guaranteed. For professional, institutional, or accredited investors only.
I have published my views on Brazil more than once over the past year (most recently in my November 2021 blog post), but the environment there has changed markedly through the first few months of this year, with COVID-related risks seemingly on the wane and the Russia/Ukraine conflict having driven up commodity prices — so I thought now would be an opportune time to share a fresh perspective on South America’s most populous country.
To wit, some of my colleagues and I just returned from a productive business trip to the bustling metropolis of Sao Paulo, where we visited retail, financial, health care, and education companies. Based on our conversations with firm executives and others, we found the corporates’ mood to be quite positive overall. And why not? Business trends have been on the upswing, mask mandates were recently lifted, soybean prices are sky-high as of this writing, and (for better or worse) the city’s notoriously brutal traffic is back again.
My main takeaway from this trip and my team’s latest research: At the country level, I think Brazil is a “buy” right now and perhaps through the rest of 2022 as well (though time will tell.) At the company level, as always, there are of course both risks and opportunities for investors to be mindful of.
At present, my bullish outlook for Brazil is predicated on several key factors, including:
1Positive carry is an investment strategy that involves investing borrowed money and then earning a profit on the difference between the return and the interest owed. Investors commonly use positive carry in currency markets.
Fintech market overview: The intersection of disruption and dispersionContinue reading
By design and by default: Industry consolidation gathers steam across IndiaContinue reading
Thematic investing: Long-term thinking for a short-term worldContinue reading
The allocator’s landscape: Three areas of attention for 2023Continue reading
2023 Equity OutlookContinue reading
Impact measurement and management: addressing key challengesContinue reading
Fintech market overview: The intersection of disruption and dispersion
In the latest episode of WellSaid, Portfolio Manager Matt Lipton and Global Industry Analyst Matt Ross join host Thomas Mucha to discuss their outlook for fintech in today's environment, exploring the recent pullback in the sector, disruptive fintech innovations, potential regulation, and much more.
By design and by default: Industry consolidation gathers steam across India
Equity Portfolio Manager Murali Srikantaiai sees increased industry consolidation in India as a largely positive trend from which some equity investors can (and should) seek to benefit.
Thematic investing: Long-term thinking for a short-term world
With economic conditions expected to remain volatile in the coming year, members of our Investment Strategy team suggest that thematic allocations may help reduce the importance of the cycle to portfolio returns.
The allocator’s landscape: Three areas of attention for 2023
Natasha Brook-Walters, Co-Head of Investment Strategy, discusses downside mitigation given the shifting equity/bond correlation, the impact of cyclical and macro volatility, and opportunities to position for long-term change.
2023 Equity Outlook
In our 2023 Equity Outlook, we offer a range of fundamental, factor, and sector insights as we look to 2023.
Impact measurement and management: addressing key challenges
Our IMM practice leader describes common impact investing challenges and suggests ways to overcome them.