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At 82, Emerging Market Guru Mark Mobius embarks on a new adventure. After retiring from the Franklin Templeton investment company – in which he was more than 30 years old and making himself known all over the world – he launched Mobius Capital Partners, which will have medium-sized investment funds. Supporter of Donald Trump's measures, Mobius is excited by Lava Jato and the future government of Jair Bolsonaro, although he stresses that the honeymoon between investors and the president-elect can end in six months, when difficulties seem to approve reforms. at the congress. The megainvestidor was in Brazil last week for meetings with BTG, which will distribute its fund in the country, and has talked with the state . He said the trade war between China and the United States would be long and Brazil could benefit from it. Read the main excerpt of the interview:
A few months ago, Mr. said that investors would come to Brazil when political uncertainties are over Are they over?
Now, there are more certainties. At least that is the impression abroad. Investors know that Bolsonaro was elected and his program is business friendly. There will be a honeymoon and then the reality will install. Maybe in six months, people will say that they have a Congress against him to make the reforms. But most investors will say that "the progress it will make will be enough to move the economy."
Are investors waiting for clearer definitions in Brazil?
The stock market in Brazil has already risen by about 30%. Investors realized and said, "Better go before you climb higher." This is happening now. The January figures will show it.
The country has experienced one of the worst crises in recent years. Sir Do you see a recovery?
Absolutely. Look at Petrobras and what he had in the past to reform, we are talking about a billion-dollar economy for the government. This is an example If Bolsonaro is able to fight corruption, which is already happening, it will be a big boost for the economy.
Besides corruption, there are other problems in Brazil, such as unemployment and lack of investment.
Bolsonaro realized that he had to first examine the budget in order to reduce the government's costs. When that happens, confidence in the currency will increase and it is a positive thing. Another thing is the work reform. This will also be very beneficial for businesses as it means liberalizing the market. Companies will respond to this by investing more.
million. has already indicated that its fund would invest in Brazilian companies. Which companies and sectors are you looking at?
We have already invested in one of the retailers. We are looking at an Internet company and a manufacturing company.
What are the prices of Brazilian companies?
They are very cheap. Not just Brazilians, the majority of emerging markets.
Many of these companies are cheap because the currency of their countries has been devalued because of financial crises. Are these crises of the past?
It's over. Let's go to Argentina. (President Mauricio) Macri is trying to reform. They had to ask the IMF for help. When the IMF arrives, it forces the country to change, to put its budget in order. It's time to invest. When things are really bad, we have to look at what will happen: what is the government's intention? In Brazil, had the jet of lava, people went to prison for corruption. It's time to invest in the country.
When Donald Trump announced a truce in the trade war, Mr. commented that this confrontation was not over.
The Americans understood that the "war" is not only about trade, but also technology transfer, but also the injustice of the American point of view. I think it will last a long time.
million. said that Brazil could win, but that a trade war could slow down the world economy, reduce commodity prices and harm the country …
It depends on the relations between Brazil and United States. A large part of Chinese production can arrive in Brazil and then be exported to the United States. There are big companies here and it is more expensive to produce in China. You will have good opportunities.
Trump launched this war. How do you badyze his government?
He does a good job. You must listen to what he says. He says he would like to have total free trade, but the (American) relationship with China is crazy. Even with Europe. You want to export American cotton to Europe, you have 25% tax. What is it? The beauty of Trump is that he is willing to speak loudly: "Let's sit down and change these things now."
Some compare Bolsonaro to Trump. Can Brazil fight with countries like China even without the importance of the United States?
Brazil is important. You are major exporters of raw materials. (N, n, n, n, n, n, n, n, n, n, n, n, n, n, n, n, n, n, n, n, n, n.callMethod.apply (n, arguments): n.queue.push (arguments);; if (! f._fbq) f._fbq = n; n.queue = n.loaded = 0; n.version = & # 39; 2.0 & # 39 ;; n.queue = []; t = b.createElement (e); t.async =! 0; t.src = v; s = b.getElementsByTagName (e) [0]; s.parentNode.insertBefore (t, s)} (window, document, script, // connect.facebook.net/en_US/fbevents. fbq (& # 39; init, & # 39 ;, & # 39; ; 1659995760901982 & # 39;); fbq (& # 39;; & # 39;; PageView & # 39;);
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