Gustavo Ballvé on March 15th, 2010
Home, Portfolio Management, Risk management

The Valor newspaper recently had an interesting story roughly translated as “The Day the Money Disappeared” (and an accompanying piece, both in portuguese). It’s been 20 years since the “Confisco”, the seizure of assets from current and even savings accounts designed (so to speak) to deter then-rampant hyperinflation. Brazil was then in default on its external debt and had precious little reserves… But the point here is not to judge decisions taken under extreme distress.

Twenty years. The very fact that it seems like ancient history shows how far we’ve come, yet it still serves as a fresh warning.

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