באיזו מדינה כדאי להשקיע?
The Reformed Broker אומר - ברזיל. למה? תמחור נמוך, גדילת צריכה פנימית בכלכלה שהתבססה על ייצוא סחורות, השקעות באוליפיאדה, מסה של אנשים שרוצים לשפר את חייהם ולפעול בכיוון, תקוות לשינויים פוליטיים חיובים באופק.
"Brazilian stocks are down 25% over the last three years and 20% just since the start of 2013... The main reasons for this is the huge drop in commodity demand and the economic slowdown of its big trading partner, China. Much of Brazil's growth output comes from selling commodities to the far east and a lot of the economy is still dependent on that, although this will change.
...
Brazilian stocks are now trading at a cyclically-adjusted price to earnings (CAPE) ratio of 9.96. This is compared to the United States stock market which is now selling for a CAPE of 22. For a closer comparison, Mexico now sells for a 19X cyclically adjusted PE while Peru and Colombia are both above 20.
...
The rapidly developing middle class develops inwardly and begins to consume more and rely on exports less as the years pass by.... In this context, the ramp up to the Summer Olympics could be just the thing to re-introduce Brazil's domestic potential to global investors once again after years of complete apathy.
...
It would seem to me that a successful equity strategy for Brazil would be to get long stocks that play the consumption side of the equation and minimize exposure to the large cap mineral exporters that are so dominant in the mainstream country index. This can be done with both non market cap-weighted index ETFs or individual ADR positions"
http://www.thereformedbroker.com/2013/07/18/the-case-for-brazil-the-worlds-most-hated-stock-market/
מה דעתכם?
The Reformed Broker אומר - ברזיל. למה? תמחור נמוך, גדילת צריכה פנימית בכלכלה שהתבססה על ייצוא סחורות, השקעות באוליפיאדה, מסה של אנשים שרוצים לשפר את חייהם ולפעול בכיוון, תקוות לשינויים פוליטיים חיובים באופק.
"Brazilian stocks are down 25% over the last three years and 20% just since the start of 2013... The main reasons for this is the huge drop in commodity demand and the economic slowdown of its big trading partner, China. Much of Brazil's growth output comes from selling commodities to the far east and a lot of the economy is still dependent on that, although this will change.
...
Brazilian stocks are now trading at a cyclically-adjusted price to earnings (CAPE) ratio of 9.96. This is compared to the United States stock market which is now selling for a CAPE of 22. For a closer comparison, Mexico now sells for a 19X cyclically adjusted PE while Peru and Colombia are both above 20.
...
The rapidly developing middle class develops inwardly and begins to consume more and rely on exports less as the years pass by.... In this context, the ramp up to the Summer Olympics could be just the thing to re-introduce Brazil's domestic potential to global investors once again after years of complete apathy.
...
It would seem to me that a successful equity strategy for Brazil would be to get long stocks that play the consumption side of the equation and minimize exposure to the large cap mineral exporters that are so dominant in the mainstream country index. This can be done with both non market cap-weighted index ETFs or individual ADR positions"
http://www.thereformedbroker.com/2013/07/18/the-case-for-brazil-the-worlds-most-hated-stock-market/
מה דעתכם?
