Gustavo Ballvé on September 15th, 2010
Food for thought, Home, Investment Themes, Portfolio Management, Risk management

We’ve posted here before about Brazil and Greece and what lessons one could teach the other. We’ve also discussed the dangers of Brazil as the capital markets’ “darling”, as Paul Krugman has said. This post has links to two articles that could very well merit a long post for each – and yet we feel it’s better to let our readers form their own conclusions.

The first story is Michael Lewis’ brilliant article called “Beware of Greeks Bearing Bonds” at Vanity Fair. It chronicles Michael Lewis’ visit to the country and discusses woes that are eerily familiar to any Brazilian over 3o years of age. This insularity and lack of big-picture view, widespread corruption and so on is something we’ve lived through in this county.

The second story is the Economist’s 14-page Special Survey on Latin America. In their introduction, they highlight “the danger of complacency”.

And that’s the link between the two articles and Brazilian reality: we’ve been there not so long ago, we’re still not far enough from it and we must never return. Complacency should be a bad name around these parts.

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