Or maybe its just another sign that Standard and Poor’s is totally, utterly useless. Either way, you sort of have to chuckle when AAA tranches are expecting 40-60% losses (depending on who you ask) and Brazil is now “investment grade.”
Well, yes, and it is fun to tease Brazil, but really the country has come quite a long way.
Brazil received an investment grade credit rating for the first time from Standard & Poor’s, sending the benchmark stock market index to a record and yields on dollar bonds to an all-time low.
Brazilian Debt Raised to Investment Grade by S&P [Bloomberg]
When China is nothing more than a hot smoking ash of its former rich self, Brazil will rise up and eat its lunch.
Plus Brazilian girls are way hotter…
People have expected immense growth from Brazil for years, and it has continued to disappoint.
Of the BRIC country group, Brazil along with Russia will grow from their own raw material supplies. The bulk of higher value, service-driven growth will come from India and China. Don’t see any scenario where Brazil’s GDP surpasses that of the U.S. during our lifetime, though I’d expect to see it from China in the next 30 years or so.
@ Pro_Forma
You obviously haven’t been to Carnivale lately. I was just there in January/February and the Brazilian women seemed to be servicing my friends and I just fine.
Huge ag producer in a hungry world.
Huge oil power, thanks to Petrobras and its new find, in an oil hungry world.
Huge ethanol (sugar) producer in a gas hungry world.
Probably the best run banks in the world.
Massive, young population, internal GDP from consumer spending will grow.
Did I mention the hot girls?
@5:34 Sounds like a lot of “service driven growth” to me.
@5:46pm. Interesting note. How do you know Brazil has the “best run banks in the world?” That’s a pretty high compliment.
As opposed to Citi, Bear, Bofa you mean. Not a very high hurdle rate
As opposed to Citi, Bear, Bofa you mean. Not a very high hurdle rate
Brazil is a major producer and exporter of agricultural products. In 2004 Brazil exported $ 30.9 billion of agricultural and foods products, making it the world’s third-largest exporter of agricultural products after US and European Union. Brazil’s major agricultural exports include soybeans, poultry, beef, pork, orange juice, coffee,sugar and others.
Also, Brazil is the largest export of iron ore and other metals.
For an example of Brazilian banking savvy, see Banco Noroeste’s Nigerian investments.
Banco Itau? Banco Bradesco?
Read up, you might be surprised.
Also, hot girls. Hot, hot, hot.
http://www.sexygirlsdepot.com/wp-content/assets/2008/02/alessandra-ambrosio-best-photos-1.jpg
And dont forget Leopards, the Brazilian version of Chippendales. But beyond that. So beyond, you can’t imagine. Check it out next time you’re in Rio. But seriously. I do business in Brazil. Its got its act together. GAnalYst
you and crazzzy sam zell…
http://moneynews.com/money/archives/st/2008/4/29/111620.cfm?s=st
Hotness. Hot-ness.
http://str8hoops.files.wordpress.com/2007/11/adriana-lima.jpg