Brazil Investment A Troubled Prospect, As Verde Reduces Equity Exposure

With a Brazil investment, where is the bottom? “The situation in Brazil remains disquieting,” a recent investment letter from SPX Capital, a leading Brazilian hedge fund said. Brazil is in the middle of a democratic struggle, where both supporters and detractors of current Brazilian President Dilma Rousseff have taken to the streets in the millions to express their views. Prosecutors have charged the former popular President Luiz Inacio Lula da Silva with hiding assets from authorities. Lula’s protege and successor of the Worker’s Party mantle is Rousseff, who faces impeachment proceedings in Congress. This volatility has translated into investments. The stock market sold off…