Checking Out the Brazilian Markets First Hand in Cancun, Mexico
By the time you read this message I will have already left for my nice weeklong getaway to Cancun, Mexico. A great opportunity for me to relax and reflect on what is really important things in life - spending quality time with those you care most about. One of my favorite sayings comes from a professional investor and friend of mine, David. He quotes:
I discovered (finally!) that, despite the ephemeral fame and fortune success can usher in, making money is not the eschaton I had believed it to be. Life is about more than the amount of money we can amass; it is rather the quality and quantity of our relationships we share.
These words very much ring true to me and I believe this very strongly, but nonetheless I am going to be just north of one of the hottest markets in the world, Brazil. My favorite stock from this market comes in the form of the countries largest bank.
Not only is it the largest bank in Brazil, but some of their subsidiaries rank as the largest companies in Brazil in their respective markets. Alas, the bank is Banco Bradesco (BBD), founded in 1943.
Banco Bradesco is the largest private-sector (non-government-controlled) bank in Brazil in terms of total net worth. They provide a wide range of banking and financial products and services in Brazil and abroad and are growing at a rapid rate. They reported very solid earnings to back this statement up. I bought into the stock at ~25 in October and have since the stock crank up to $41.50. The fundamentals of the stock are outstanding and as long as the Brazilain market can contiue to prove stable and growing, then I see this financial play as a great way to diversify overseas. Look for this one to continue its solid 4.00 Price Pattern northward.
Now if you will excuse me, this sand sure feels good between my toes and I hear this sandy beach callin' my name :-) Till next week...