A post on TF made me realize I hadn’t updated this thread in a bit. Current status over last 6 months of holding:
- EWZ up 2% (basically flat)
- STNE up 29%
- PAGS up 33%
- PBR up 62% (this is an energy play as much as it is a Brazil play, so two catalysts)
As you can see from the graph below, I was clearly early in Aug, and Nov would have been a better time to get in. I did double down on STNE and PAGS around then. The thesis still holds, as Brazilian interest rates are coming down slowly, but slooooooowly.
