2024-04-09 13:04:36 ET
Summary
- FLBR offers a strong value profile with a high dividend yield (9.33% in 2023), trading at 1.5x book value and 8x earnings.
- However, there are concerns about Brazilian President Lula's interventionist policies towards key sectors like energy and materials.
- While Brazil's export-oriented economy could mitigate domestic macroeconomic risks, the volatility of commodities and potential boom-and-bust cycles, along with political risks, temper the attractiveness of FLBR.
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FLBR: Exceptional Value Threatened By Lula's Long Arm