TheOldEconomy Substack

TheOldEconomy Substack

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TheOldEconomy Substack
TheOldEconomy Substack
The most leveraged bet on Brazil

The most leveraged bet on Brazil

Finally, it is not a shipping or energy stock pick

Mihail Stoyanov's avatar
Mihail Stoyanov
Feb 12, 2025
∙ Paid
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TheOldEconomy Substack
TheOldEconomy Substack
The most leveraged bet on Brazil
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I am the king of inaccurate predictions. Last year, I made numerous wrong calls. One of those was Brazil. Apparently, I underestimated the role of Lula’s fiscal dominance policy. As a result, Brazilian Real and equities were decimated in the previous 12 months.

Is this the premature end of the long-awaited Brazilian bull run?

I don’t think so. Brazil has a lot to offer for adventurous investors. Even during the last 12 months of carnage, some names scored impressive gains:

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