In retrospect, it was a clear sign of a market top…
A few years ago, I was waiting to speak as an energy specialist was
wrapping up his presentation. He closed with a recommendation of
Brazil’s energy giant Petrobras (PBR), boldly predicting that its market value could reach more than a trillion dollars.
While Petrobras stock reached $71 in 2007, it now trades under $5.
And just last month, Brazil itself lost the coveted investment grade status it earned in 2008. (more)
No comments:
Post a Comment