Brazil Stock Market Making A Comeback? Foreign Investors Have Spent $4.2 Billion On Local Equities So Far In October

ELIZABETH WHITMAN, 10/23/2015, INTERNATIONAL BUSINESS TIMES

It was as recently as August that analysts were making doomsday predictions about Brazil’s economy, pointing to recent consecutive quarters of contractions, soaring unemployment and a plunging currency. So it was a surprise, at least to some, when it turned out that in the first 20 days of October foreign investors had spent $4.2 billion in the country’s stock market, as Bloomberg reported Friday, even as some have predicted that lower prices offered in Brazil’s lagging economy were precisely what could lure investors.

“Anyone buying a selective portfolio at current levels will make money,” Guilherme Ache, a partner at Squadra Investimentos, an investment firm based in Rio de Janeiro, told Bloomberg, even as he warned that investors would need to be savvy in selections. “There’s no bell that rings when you reach a turning point in a bear market,” he added.

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