I hope you are ready to buy into some weakness, because Nicholas rattled off 5 Brazilian plays; 4 of which are ready to be added to the portfolio. First, the iShares Brazil Index (EWZ) will be added at its Friday closing price of $83.26. It is well above the 50 day M.A. and is ripe for the picking, down almost $3 on Friday. Second, Petroleo Brasiliero (NYSE:PBR) is another all star that will be added to the Portfolio at its Friday close of $107.76. Even if you believe that oil can not sustain these levels, PetroBras is for real. Third, CVRD (NYSE:RIO) will follow the lead and makes a great addition to the Portfolio at its Friday close of $35.70. Friday's pullback brought the stock under the standard 5% mark, but it has been trading well above the 50 day M.A. for some time now; welcome. Fourth, UniBanco (NYSE:UBB) was Nick's favorite Brazilian bank, and will make a great addition to the Portfolio at $148.86. The fifth and final stock mentioned does not join the party, but it may very soon. Banco Itau (NYSE:ITU) is below its 50 day M.A., but these banks do not have the same problems as US banks. It must be noted that Brazilian stocks have a rather high Beta. According to Nicholas, it is over 2, compared to US markets. I will be sure to monitor these additions closely.
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It is now a year out and in 7 months from your post in Nov. 2007 these stocks averaged a 11.5% gain. What do you think?
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