Gustavo Ballvé on April 18th, 2011
Food for thought, Home, Investment Themes, Portfolio Management, Risk management, Signal or Noise

Tow quick notes: ONE – Today the credit rating agency Standard & Poor’s issued a negative outlook on the long-term US credit ratinghere’s the press release – sending the US market indexes down. No surprises there, but it’s ironic how the Brazilian index is sharply down as well – in a day with two stories on Brazil’s attractiveness to the financial markets. Of course, we’re being unfair since the Bovespa index is being dragged down by the 15-16% drop in OGX and a 3-4% drop in Petrobras… The stories: One discusses Brazil overtaking China as the favorite market for Private Equity in the next few years (here’s the survey in PDF). Another describes J.P. Morgan’s hiring binge in Brazil over the last 14 months – not including the Gávea Investimentos deal – and highlights that it isn’t done hiring and that other foreign institutions are also hiring by the hundreds.

Alternative link to the Private Equity story: Wall Street Journal’s Private Equity Beat blog.

TWO: the NYT profile on Carl Icahn at 75 is another reminder of the often troublesome succession issues so common to companies with charismatic leaders (“key-man risk”).

We’ve posted before as Carl Icahn returned all outside money in his hedge fund. We had also posted on PE (and hedge funds) in Brazil.

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