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EWZS: Look For A Buying Opportunity Later In 2023

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GV Strategies


  • Emerging Markets, in general, and Brazil, in particular, are trading at extremely low P/E multiples in the context of the last two decades.
  • Brazilian stocks are cheap for many reasons; but this may not warrant such a large discount. It may lead to a bullish run like in the early 2000s.
  • Poor sentiment is seeing Brazilian stocks likely in a bottoming-out pattern. Yet, later this year might present a better entry point, given the challenging outlook for commodities this year.
  • The iShares MSCI Brazil Small-Cap ETF has less concentrated bets on commodities versus the MSCI Brazil Index. It may provide good risk/reward and diversification for one’s portfolio.

brazilian money currency symbol brazilian economy

Edson Souza/iStock via Getty Images

iShares MSCI Brazil Small-Cap ETF overview

The iShares MSCI Brazil Small-Cap ETF (NASDAQ:EWZS) was launched in 2010, offering investors exposure to the MSCI Brazil Small Cap Index. It now has assets of approximately $90 million, and the

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GV Strategies profile picture
GV Strategies was formed to discuss unusual strategies that may fly under the radar of many global investors. They might relate to areas such as frontier / emerging markets, closed end funds and activism opportunities, high yield / emerging market debt to name a few.The perspective explored will be typically from that of a global investor based in developed markets and how such opportunities may fit a portfolio. Also, the practicality / opportunities for such investors to set up accounts in some frontier / emerging markets will be explored.In the past we have collaborated with other Seeking Alpha marketplace investing groups, i.e., shared articles with an exclusivity period for an additional fee. If an investing group wishes to discuss this possibility in the future, please get in touch. We may soon cover at least a couple of tickers a month as a guide by 2024. We will however only cover tickers we choose, and feel can offer some worthwhile insight on. They currently tend to be CEFs / ETFs.

Analyst’s Disclosure: I/we have no stock, option or similar derivative position in any of the companies mentioned, and no plans to initiate any such positions within the next 72 hours. I wrote this article myself, and it expresses my own opinions. I am not receiving compensation for it (other than from Seeking Alpha). I have no business relationship with any company whose stock is mentioned in this article.

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Comments (1)

The problem with the current leftist government is the old mentality and the desire to control. The stock market may go up but will not be a sustainable movement. On the other hand small caps that for us are medium size companies may experience a period of growth as soon as the central bank brings down current 13.75% rates towards 10%, perhaps beginning in the sept meeting. Banks are having record results, Vale is China dependent and Petrobras is under new management and nobody knows for sure what the government is going to do so far is extremely profitable. So EWZ is a question mark and EWZS could make it because they are totally local economy dependent and everybody is anxious for a more favorable macro scenario
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