Important Headlines
📰 America’s Outback Steakhouse is the Top Restaurant in Brazil
Sao Paulo has the world’s largest Outback which is twice the size of America’s largest. The Giant Outback has 550 seats, VIP area, kids play zone, and a place to bring your pet. Brazil accounts for 83% of Outback’s international revenues.
📰 Chinese Company Investing $1.4 Billion in Bolivia Lithium
The agreement connects CATL, the world's largest manufacturer of electric vehicle batteries, with Bolivia's salt flats that are home to the world's largest lithium resources. CATL will build two plants to make lithium chemicals with a combined production capacity of about 200,000 tons a year.
📰 After Years of Failed Leftism, Argentenia is Beginning to Lean Right
The pro-market moves are appreciated by the markets sending the nation’s bonds to the highest levels since February and currency up 6%. Every major economy in Latin America is currently under the spell of leftist leaders.
Adding to the long list of failed Washington DC diplomacy in Latin America, China is militarizing Cuba creating a likely Cuban Missile Crisis Part Two. The move shows Latin American countries that Washington DC isn’t a force to be respected in the region, and that China is the boss.
📰 LATAM’s Central Banks are Poised to Lead the Way in Cutting Rates
The banks aggressively tightened over the last two years, starting in 2021, with the sharpest monetary tightening policies in the world. Uruguay has already cut rates, Chile is likely to follow suit in July, with Brazil not far behind. Mexico and Colombia cuts look further away. Current rates: Chile (11.25%), Mexico (11.25%), Colombia (13.25%), and Brazil (13.75%).
📰 Middle East SWFs Likely to Increase Investments in Africa
Some forecast Africa to be the fastest growing region in the world, after Asia, in 2024. Investors in the middle east have grown their Africa investment allocations by 50% over the last five years. Agriculture, energy and infrastructure have been the main beneficiaries. Presently, the capital is mainly flowing into Kenya, and this is expected to soon spill into Angola, Nigeria, Ghana and South Africa.
Reader’s Insights (Podcast)
This week we interviewed David Auerbach, a REIT ETF managing director based in Texas. During these ~10-minute interviews, we always ask the same three questions:
What is one thing people don't understand correctly about your industry that they should? Why does it matter? [Industry question]
Describe a skill or trait that has aided you throughout your career. How did you discover and foster it, and how has it helped you? [Career question]
How do you stay consistently motivated and hungry to improve yourself and your business? [Philosophy question]
