A giant is making moves.
This past weekend we learned that, despite multiple polls predicting a certain loss, the centre-right candidate Flavio Bolsonaro scored a ~2-point win vs. incumbent Lula da Silva. Alas, not enough, so the second round will be held on October 25.
The markets were quick to react.
- The Ibovespa index surged nearly 8% to a record high, the biggest gain in over six years.
- EWZ did $8 billion in volume, just behind SPY and QQQ.
But the real story runs deeper. Much deeper, actually.
In this piece, I discuss how a new political cycle in Brazil may unlock a range of opportunities, with two areas where I see substantial potential for value creation in metals & mining.
PS: All research notes are available immediately on Substack and a day or so later on the Mining Investing Toolkit.
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Research focuses on trending investment themes. Mining Investing includes 3 modules with many sections each. Energy Transition Investing, 6 modules with 10 sections.
In total, 70+ posts/sections, with new ones published weekly.