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Indexes Do Not Tell The Tale Of Damage

Wed, 28 Oct 2009 20:27:15 GMT

First, pardon all the trading today - some days just require it. I'm already exhausted and its only 2 PM. Second, we've been saying the indexes are not reflecting the carnage seen "underneath" - my watch lists are full of names in the $500M to $5B market cap space which is my sweet spot, and it looks like September 2008 . Here is a sampling of what is really happening when you move away from McDonalds, IBM, Walmart, and Microsoft.[More...]

Rio 2016: Guide To Investing In Brazil

Wed, 07 Oct 2009 13:48:11 GMT

There was a lot of talk about potential host cities for the Olympics lately and the politics associated. That talk died down after Brazil was awarded the honor of hosting. You may be asking “how does that relate to trading”…well my friend Raul of the Shocked Investor is about to make that connection. He has been researching the Brazilian stocks and options recently and more importantly ones traded on American exchanges. Enjoy the article and be sure to leave a comment with your thoughts.[More...]

Best Performing Stocks - Third Quarter 2009

Thu, 01 Oct 2009 13:27:51 GMT

Here is a look at the top scorchers of the third quarter; a period where the S&P 500 gained 15% - it's best return since we were building the last stock market bubble in 2008. Who says history does not repeat itself?[More...]

BusinessWeek: Brazil's Coming Rebound

Tue, 11 Aug 2009 16:24:00 GMT

A quite comprehensive article from BusinessWeek on many of the things we've discussed on the blog over the past 2 years on what makes Brazil an enticing long term story. (May 16, 2008: Brazil is Sexy) Or perhaps we can put this story this under the category of countries who act fiscally conservative, expand their middle class, and will benefit in the long run. (May 29, 2009: US v Japan v South Korea) Or (May 28, 2009: WSJ - Prudent Chile Thrives Amid Downturn) As it now seems abundantly clear in this country permanent short term gratification by utilizing[More...]

Brazil Getting To Pre-Crisis Levels

Wed, 27 May 2009 18:25:55 GMT

Highlights include Gafisa (GFA), Tam (TAM), Vivo (VIV) and Ambev (ABV). Many indicators released yesterday in Brazil seem to confirm our basic economic scenario for the country and for emerging markets in general. As we have been saying, Brazilian interest rates are expected to keep on following a one-way street down, and the Brazilian real should continue to gain strength against the U.S. dollar. After 18 months of small deficits in the current account, yesterday it was announced that Brazil had a surplus in April -- US$146 million. Trade balance remains positive and remittances from local[More...]

Gafisa A Brazil Subsidy Play

Mon, 30 Mar 2009 18:45:00 GMT

After the announcement of the Brazilian stimulus package for the construction sector late last week, we decided to upgrade Gafisa S.A. (GFA) from Hold to Buy. As we were expecting, the stimulus program was announced with the following main points:??? New investments of R$34 billion (US$14.9 billion) in order to build an estimated total of one million new homes, with 400 thousand for very poor families (with a 100% subsidy) amounting a total investment of R$16 billion (US$7 billion) and the monthly installment for this program not to exceed US$22 per month?? ? 400 thousand homes will be built for low income class families; with some degree of subsidy as annual rates will be 5% or 6% per year -- very low for Brazilian standards -- depending on the total family income. Total[More...]

Brazilian Gov't To Boost Housing

Tue, 03 Mar 2009 15:21:00 GMT

Highlighted in this post is Gafisa SA (GFA). The construction business in Brazil had a great first half of 2008; however, the performance of the sector was highly affected by the credit crisis in the end of the year. The driving force behind the sector in recent years was the emergence of a mortgage market in Brazil -- a great development since domestic rates were lower than ever in 2007, even though still high by international standards. The higher rates in 2008 as a result of inflation fears were a source of concern during the first 3 quarters of 2008. Nevertheless, the real problem came with the deepening of the crisis and the lack of long-term credit lines to finance the construction business. The availability of lines is still a[More...]

A Pair Of Profitable Homebuilders

Mon, 22 Dec 2008 17:42:28 GMT

In the U.S. homebuilders are in the middle of a tremendous downturn with a true rebound nowhere in sight. Yet homebuilder stock prices have been rebounding. Last week when Lennar NYSE:LEN announced that their 4th quarter loss was only $811 million compare[More...]

Bottom Fishing

Mon, 08 Dec 2008 14:12:00 GMT

After Friday's rally in the face of horrible employment numbers, I am taking a closer look at long setups off of the lows. Before I get to individual stock charts, let's look at the 60 day SPY chart: As I am writing this, futures are up significantly in the premarket. I will be looking for a move above the 11/28 highs to get more aggressive on the long side. A few cautionary notes are in order. I have been getting daily updates from [More...]

Interpreting Yesterday's Rally

Fri, 14 Nov 2008 14:00:00 GMT

So I am sitting there, and the market's down around 4%. The S&P had breached the October lows, and I'm loaded with short positions, including a pretty large position in the ultrashort EEV. Then it suddenly occurs to me, everybody's watching this level, including the government. And they have hundred of billions of dollars to buy stocks! I started thinking, if I'm Hank Paulson, I'd be buying hand over fist now to protect the low, maybe put a floor under this market. So I covered a bunch of positions, although unfortunately too few, and what had been a magnificently profitable day turned into something quite mundane. That was some gut-wrenching, exhausting action. So call me a tin-hat conspiracy guy, but I think we would still be dropping if it weren't for the plunge-protection team. All the same, I will respect the rally, since it is exactly what I was looking for in order to move to a bullish orientation. I do not think we have seen the end of the bear[More...]

Investors Flock to SM Prime Debt Paper Sale Amid Crisis

Thu, 02 Apr 2009 18:49:00 GMT

Apr. 3--In a disclosure to the Philippine Stock Exchange, SM Prime Holdings, Inc. (SMPHI) said it completed the P5-billion floating and fixed rate notes facility that would help fund its capital expenditures and general corporate requirements.
The strong response by the market to this financing illustrates the high credit quality of SMPHI, as well as the local market's confidence in SM Prime," the company said.
The fund raising activity was arranged by affiliate BDO Capital and Investment Corp. with PNB Capital and Investment Corp. as co-lead arranger.

[More...]

Gafisa (NYSE: GFA) Files 2008 20-F Report With the SEC

Fri, 05 Jun 2009 23:38:00 GMT

Gafisa S.A. , Brazil's leading diversified national homebuilder, has filed its 2008 annual report on Form 20-F with the U.S. Securities and Exchange Commission and has posted this document on its website at www.gafisa.com.br/ir.[More...]

Equity International Acquires 5% Stake in Gafisa's Subsidiary Tenda S.A. - Mar 19 2009 5:36PM

Thu, 19 Mar 2009 21:22:00 GMT

Gafisa S.A. , one of Brazil's leading diversified national homebuilders, today announced that Equity International , the privately held investment company co-founded by Sam Zell and Gary Garrabrant, recently acquired 19,465,600 shares in Gafisa's subsidiary, Tenda S.A. , representing an approximate 5% ownership stake. Gafisa currently owns 60% of the total capital and voting shares of Tenda.[More...]

Equity International Announces New Stake in Brazilian Homebuilder

Thu, 19 Mar 2009 19:59:00 GMT

Equity International, the privately held investment company focused on real estate-related businesses operating outside of the United States, announced today the acquisition of approximately 20 million shares in Construtora Tenda S.A. (Bovespa:TEND3), a publicly traded Brazilian homebuilder focused exclusively on the affordable/entry-level segment. This transaction, through Equity International’s Fund IV, represents an approximate 5 percent ownership stake. Tenda marks Equity International’s fifth portfolio company investment in Brazil.[More...]

Gafisa and Tenda to Webcast Investor Day

Tue, 10 Mar 2009 19:23:00 GMT

Gafisa S.A. , Brazil's leading diversified national homebuilder, and Construtora Tenda, S.A. , Brazil's leading homebuilder exclusively dedicated to the low income segment, will host an investor day on March 11, 2008 at the Metropolitan Club in New York beginning at 2:00 p.m. Eastern Time/3:00 p.m. Brazil Time. The event will feature presentations by operating executives of both companies on industry trends, current financing alternatives and corporate strategies.[More...]

Zacks Analyst Blog Highlights: Petroleo Brasileiro SA, Charlotte Russe Holding, Allion Healthcare Inc., Gafisa SA and Shaw Communications Inc.

Mon, 17 Nov 2008 14:18:00 GMT

Zacks.com announces the list of stocks featured in the Analyst Blog.
Every day the Zacks Equity Research analysts discuss the latest news and
featured in the blog include: Petroleo Brasileiro SA (NYSE: PBR), Charlotte

[More...]

Zacks Analyst Blog Highlights: Koninklijke Philips Electronics N.V., Gafisa S.A., Supertex, Inc., Motorola, Inc. And General Electric Co.

Fri, 03 Oct 2008 11:00:00 GMT

Zacks.com announces the list of stocks featured in the Analyst Blog.
Every day the Zacks Equity Research analysts discuss the latest news and events impacting stocks and the financial markets.
Stocks recently featured in the blog include: Koninklijke Philips Electronics N.V. (NYSE: PHG), Gafisa S.A. (NYSE: GFA), Supertex, Inc. (Nasdaq: SUPX), Motorola, Inc. (NYSE: MOT) and General Electric Co. (NYSE: GE).

[More...]

Gafisa Receives Upgrade from Fitch Ratings to 'A(bra)' - May 27 2008 12:33AM

Mon, 05 May 2008 23:47:00 GMT

Gafisa S.A. , Brazil's leading diversified national homebuilder, today announced that Fitch Ratings has upgraded the Company's corporate debt rating to an "A from an 'A-' . Gafisa is one of only two companies within the sector rated by Fitch Ratings to receive an 'A' or higher rating of its corporate debt.[More...]

Gafisa Reports Results for First Quarter 2008 - Jun 30 2008 6:45PM

Mon, 05 May 2008 23:00:00 GMT

Gafisa S.A. , one of Brazil's leading diversified national homebuilders, today reported its financial results for the first quarter ended March 31, 2008. The following financial and operating information, unless otherwise indicated, was prepared and presented in accordance with Brazilian GAAP and in Brazilian Reais . Additionally, financial statements and operating information consolidate the numbers for Gafisa and its subsidiaries, and refer to Gafisa's stake in its developments. To view a more detailed review of first quarter results filed with the Brazilian Comissao de Valores Mobiliarios , please visit Gafisa's website http://www.gafisa.com.br/ir .[More...]