Quite cool to be quoted in The Financial Times for my opinion on where the Caracas Stock Market is going:
“We’ve had a brutal devaluation, so steep that no one was looking at the stock market, but now we are seeing some catching up as investors look for value,” said Miguel Octavio, director at local investment bank BBO Servicios Financieros. “In what’s left of the year, these companies will continue marking up their prices.”
Hope I am right so that my friend Andy Webb-Vidal who reads this blog keeps thinking that I know what I am talking about and quotes me again in the future. This is not the conventional view locally due to political unrest, but everytime a big devaluation takes place stocks rise as real assets of good companies like plants and production facilities keep most of ther dollar value.