Seeking Alpha

A check of the Peru ETF (EPU) finds it retesting the low it hit as shares collapsed in the...

A check of the Peru ETF (EPU) finds it retesting the low it hit as shares collapsed in the wake of Ollanta Humala's election. A poll shows the president-elect, a pal of Hugo Chavez, but promising policies more in line with Brazil's Lula, with a 70% approval rating. Down 25% YTD, EPU remains higher Y/Y, +9.5% .
Comments (3)
  • Tony Petroski
    , contributor
    Comments (6373) | Send Message
     
    "A poll shows the president-elect, a pal of Hugo Chavez, but promising policies more in line with Brazil's Lula, with a 70% approval rating."

     

    Reuters reports that other polls show Chavez, a pal of Humala, getting the approval of 87% of Venezuelans, Castro, a pal of Chavez and Humala, has an approval rating of 97% and the corpse of Lenin, now not the pal of anyone, still receiving an astounding 99.97% approval of the Soviet people!
    21 Jun 2011, 01:25 PM Reply Like
  • kmi
    , contributor
    Comments (4018) | Send Message
     
    70% approval rating is rather higher than the margin by which he won the election. I am not convinced he will nationalize the crap out of everything since he presented several forms of his plans prior to successfully taking the election, but I think he has toned down his rhetoric somewhat. How he actually pursues policy will be of interest.

     

    As in most cases and most countries, it is a shame the more moderate candidates lost in the early rounds.
    21 Jun 2011, 01:34 PM Reply Like
  • Duude
    , contributor
    Comments (3374) | Send Message
     
    Humala says his main anti-business focus (not exactly his words) will be in mining which is the country's biggest generator of hard currency. He's been talking about upping the revenue tax on mining operations while the miners have been trying to convince him to make it a tax on profits instead. The international mining companies claim they were planning to invest $70 billion into Peruvian mining, but want to first see what Humala's plans are.
    21 Jun 2011, 02:06 PM Reply Like
DJIA (DIA) S&P 500 (SPY)
ETF Tools
Find the right ETFs for your portfolio:
Seeking Alpha's new ETF Hub
ETF Investment Guide:
Table of Contents | One Page Summary
Read about different ETF Asset Classes:
ETF Selector

Next headline on your portfolio:

|