Brazil Bull Who Got It Right in 2002 Says This Time No Different
- Investors are too bearish on emerging markets, Booth says
- Brazil is a `mess' but its troubles are already priced in
Brazil's Economy Is Under Pressure
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The selloff punishing Brazilian markets in recent months isn’t fazing Jerome Booth. He’s seen it before and says just like then, it’s way overdone.
Yes, Brazil has serious problems. The country’s “a mess,” he says, with a massive corruption investigation at state-run oil company Petroleo Brasileiro SA, a worsening fiscal outlook, the steepest recession in 25 years and a political system so fractured that needed reforms just aren’t getting done. That’s not to mention a credit-rating cut to junk and the currency’s plummet to a record low.