< The 2015 Latin America Research Team
Total appearances: 4
Team debut: 2012In second place after a three-year run at the top is the BTG Pactual group under the guidance of São Paulo–based Marcello Milman, 34, and 42-year-old Gordon Lee, who is stationed in New York. In addition to this six-strong team, Lee and Milman also oversee the first-place troupe on the Cement & Construction lineup. High interest rates, weak housing sales and an inventory buildup prompted the analysts to turn negative Brazilian real estate brokerages LPS Brasil – Consultoria de Imóveis and Brasil Brokers Participações in May 2014. Sure enough, by the middle of last month, the shares had plunged 54.9 percent and 50.1 percent, respectively, to 5.13 reais and 2.15 reais. During the same period, Latin America’s real estate names overall tumbled 15.4 percent. “We still see a gloomy scenario for the Brazilian real estate sector, given the macro slowdown,” says Lee, who also heads a team that garners a runner-up position for its coverage of Mexico and co-captains, with Carlos Eduardo Sequeira, another squad that claims a runner-up spot on the Technology, Media & Telecommunications roster. “Their cautious view really helped our performance a lot — because they were definitely right,” declares one money manager.
