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Pessimism grows for Brazilian stocks with brokers joking of getting shown the door at buy-side...
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Thursday, October 11, 2012, 3:06 PM ETPessimism grows for Brazilian stocks with brokers joking of getting shown the door at buy-side houses when trying to hawk the shares. The concerns of shareholders at Petrobas (PBR) and VALE seem to take a back seat to those of the government, and investors wonder which sector - perhaps the banks - will be the next target of intervention. EWZ -5.5% YTD.
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Phenomenal opportunity exists in Brazil as well as risks that are impossible to decipher.
I live there about half the year and love it but would never invest in any of this countries equities. As I watch my friends endure a multiple week process to either get a drivers license or a passport I understand that any investment in this country is at risk with the ultimate threat being a Hugo Chavez style government which is a possibility. This would wipe out any Brazilian equity investments overnight.