Forget the BRICs... the term coined by Goldman Sachs economist Jim O'Neill coined to identify the potential of the emerging economies of Brazil, Russia, India and China.
U.S. stocks had a blockbuster month, as the S&P 500 garnered roughly 7.2%. However, the overwhelming majority of the benchmark’s gains came in the first 3 weeks; the index was effectively flat over the last trading week in July.
Fundamentally, a bullish perspective makes the most sense over the intermediate term. As many as 78% of S&P 500 corporations have exceded earnings expectations, while 68% or more beat revenue projections. Moreover, in spite of widespread economic uncertainty, a solid majority of key companies increased their outlook for future profitability.
How might this guide stock price direction? The forward price-to-earnings ratio for the U.S. stock barometer hovers near 13; that suggests a stock market that is… historically speaking… 20% undervalued from an average ratio of 15.5. The earnings yield E/P of 7.7% is an astonishing 4.7% higher than a 10-year treasury and 6.7% higher than comparable TIPS.
Fresh off the successful launch of their Lithium Fund (LIT), Global X unveiled the newest addition to its lineup yesterday, the Brazil Financials ETF (BRAF). This fund makes 14 ETFs in total for the New York City based issuer which has a heavy focus on international funds including China sector ETFs and a fund tracking equities in Colombia. The fund is also the third a series of Brazilian ETFs from the company, coming after earlier launches in the consumer sector (BRAQ) and a Mid Cap ETF (BRAZ). These funds offer exposure to the dynamic Brazilian economy which is currently a $2 trillion.....
Latin American countries like Brazil, Chile and Argentina have garnered the bulk of investor dollars focused on this region. Yet Mexico may be a dark horse in the field.
Consider the facts that the Mexican economy is 11th in the world, sports large cash reserves and plenty of natural resources (e.g., oil, copper, silver). Should you be looking to the MexicoETF as a way to invest south of the border?
The Global X Brazil Financials ETF (BRAF) began trading yesterday (July 29, 2010). This is first ETF to target Brazil’s financial sector and the third of six planned Brazil ETFs from Global X Funds.
According to the press release (pdf), the financial sector in Brazil is large and benefits from a decade of restructuring. Brazilian loan portfolio values far exceed that of any other Latin American country, and are five-fold higher than second-ranked Mexico. Financial investment in Brazil is expected to grow by 22% annually through year 2020.
SINGAPORE: French retailer Casino has hired Deutsche Bank and RBS to advise it on a potential bid for Carrefour's Malaysia, Singapore and Thailand assets, two sources said.
Carrefour has put up its Southeast Asian assets for sale at a potential price of US$1 billion (RM3.19 billion), according to sources with knowledge of the deal. It wants to sell its units in Malaysia, Singapore and Thailand and focus on core markets where it holds leading positions.
Casino "is serious about" bidding for the Carrefour business, said one of the sources with knowledge of the deal.
The sources asked not to be named because the deal is not public.
Casino Group, Deutsche and
Brazil’s largest miner, Vale S.A. (VALE) reported excellent results of an EPADR of 70 cents for the second quarter of fiscal 2010, a big leap from 15 cents in the year-ago quarter. On a sequential basis, EPADR was also more than double from 30 cents. However, it missed the Zacks Consensus Estimate of 78 cents. Net earnings also increased to $3,705 million from $790 million in the corresponding quarter of 2009 and $1,604 million during the previous quarter. This huge jump was attributable to the new pricing system of iron-ore and pellets.
Net operating revenues stretched 45.0% year over year to $9,930 million from $5,084 million in the second quarter of 2009 and $6,848 million in the previous quarter, primarily driven by
Every time there is a little blip by China in its purchasing or holding of US treasuries, hyperinflationists come out of the woodwork ranting about the "Nuclear Option" of China dumping treasuries en masse.
Such fears are extremely overblown for several reasons.
1. China's purchasing of US assets is primarily a balance of trade issue. If the US runs a trade deficit, some other countries ruin a trade surplus and thus accumulate dollars. This is purely a mathematical function as I have pointed out many times.
2. If China dumps treasuries for Euro-based assets, oil-based assets, yen-based assets or for that matter anything other than dollar based assets, the problem merely shifts elsewhere and those buyers would have to do something with the dollars.....
For years the most prominent feature of Mexico has been its exotic cuisine with all its varied flavors, colorful decoration, and variety of spices while investment options were never taken seriously. Longtime investors have viewed other Latin American economies like Brazil and Argentina with more interest discussing plans possibly sitting in a restaurant serving Mexican cuisine.
While Mexico doesn't quite enjoy the celebrity status of rival Brazil, there is no denying the fact that the country is undergoing something of an economic renaissance. With its last financial crisis more than 10 years behind it, Mexico is enjoying record foreign currency reserves and an investment-grade debt rating, thanks to much-improved fiscal discipline. It even boasts several companies listed on the
SAO PAULO, July 29 /PRNewswire/ -- Banco PanAmericano, a financial institution that is part of the Silvio Santos Group in Brazil, closed its issue of senior debt (Medium Term Notes) in the international markets, where the banks Itau, Bradesco, UBS Investment Bank and Standard Bank were the coordinat
Peixe Urbano means, in Portuguese, “Urban Fish”. That’s a fun fact.
Here are a few more: Peixe Urbano is a Rio-based Groupon clone that’s doing very nicely indeed by tailoring its service precisely to a Brazilian audience. The site offers 30 deals a week, across multiple cities. According to the company’s own numbers, they’re averaging a little over 1000 purchases per deal: 30,000 sales a week. Peixe Urbano takes 50% commission on every sale. The site’s popularity is growing fast amongst traders too: 300 companies a day apply to have their deals sold through Peixe Urbano.
Brazil is one of the more interesting emerging markets: the number of venture capital firms there is growing, as is the number.....
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For years the most prominent feature of 
