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Eduardo Porter

Why Wall Street Should Like Latin America’s Left

Recent left-wing governments in Argentina, Brazil, Chile and Mexico have delivered better returns than their right-wing counterparts.

Look left for superior returns.

Look left for superior returns.

Photographer: Cris Faga/NurPhoto via Getty Images

Here we go again. In many quarters, the surge of the left across Latin America seems to be inspiring tired, kneejerk reactions that spring from the kind of rigid ideological mindsets that have encrusted the region’s history. 

Investors in financial markets no doubt feel justified in their fears over the new cohort of left-leaning leaders taking office across Latin America. They are freaking out over Gabriel Boric’s agenda in Chile. They fret about Luiz Inacio Lula da Silva’s plans for Brazil. They are wringing their hands over the “ business-averse” economic policies of Gustavo Petro in Colombia.