Igor Cornelsen is a banking expert that specializes in Brazil’s financial markets, having spent decades in Brazil prior to offering his advice to the public. In early 2015, PR Newswire released a story containing four tips shared by Igor Cornelsen.
Only the largest banks in Brazil are trustworthy
Igor Cornelsen suggests that the only banks worth holding one’s assets in are the ten largest, including the likes of Banco J Safra, Banco do Brasil, Itau Unibanco, and Bradesco. Other banks, although some of them offer seemingly good deals, shouldn’t be trusted with one’s investments, according to Igor Cornelsen. While some people support small, local businesses – including financial institutions – more than large corporations, placing one’s assets into established, trusted banks unarguably brings a greater net benefit than with smaller options.
China’s economic performance is closely connected to that of Brazil
China exports a lot of raw materials to Brazil. Many of these commodities end up in Latin America in the form of finished goods. China also ships tons of finished goods out to countries in Latin America. These connections often result in changes in one another’s economies, meaning investors should keep a close watch on what’s going on in both countries.
Brazil’s real isn’t worth its price tag
The real, Brazil’s sole currency, has been overvalued for a long time. Cornelsen suggests that the currency isn’t worth its price tag, and investors’ money is better off in securities, not dollar swaps or real-related futures.
Politicians have an undeniable effect on financial markets
Joaquim Levy and Guido Mantega have been the past two finance ministers in Brazil. Their policies have performed in opposition of Brazil’s best interests, unfortunately for people who’ve invested in Brazil’s markets. Investors need to keep up with elections, as appointments could result in big changes.