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Rubicon Associates is headed by a Chartered Financial Analyst with over 20 years of experience in the investment management industry focused on the analysis, investment and management of fixed income and preferred stock portfolios. Over the years, he has analyzed and invested in both public and... More
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  • Morales Seizes Another Asset 0 comments
    May 1, 2012 2:50 PM

    Latin America continues down a bad road:

    Bolivia is seizing the local assets of Spain's Red Electrica Corp. (NYSEMKT:REE) to give the government control of the Andean nation's electricity grid.

    President Evo Morales signed the nationalization decree today, Communications Minister Amanda Davila said in a telephone interview from La Paz. The Alcobendas, Spain-based company's investment in its Bolivian unit was inadequate and the energy industry should be controlled by the government, Davila said.

    Story

    Granted, Evo Morales and Bolivia are not a great proxy for Latin America, but the news flow from the region is terrible - whether it be Brazil, Bolivia or Argentina (nevermind Venezuela). While in the short-run these actions might have good political optics, FDI will be very selective and reduced. Not the way to grow the region.

    Disclosure: I have no positions in any stocks mentioned, and no plans to initiate any positions within the next 72 hours.

    Themes: Latin America
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