In today's market, we think careful stock-picking will be rewarded. Plus, we look at the impact of rising interest rates on banks and of ETFs on the traditional asset management industry.
Ultimately, we think investors will realize the true earnings power of narrow-moat Banco Santander Brazil.
The country has proved resilient in times of stress, and its financial institutions appear to be attractive long-term investments.
We prefer companies with little direct exposure to questionable sovereigns.