Carlos de Alba guides the Morgan Stanley squad to second place for a fourth straight year. The crew — with analysts in Mexico City, New York and São Paulo — monitors 19 stocks, an increase of five since last year. “They are the go-to resource on this sector,” insists one portfolio manager in Lima. In February 2012 the researchers downgraded Cía. Siderúrgica Nacional from equal weight to underweight, at 16.07 reais, largely because of its inability to increase its iron-ore shipments. Shares of the Brazil-based iron and steel producer plunged 65.1 percent, to 5.61 reais, and trailed the sector by 28.8 percentage points, through mid-July. “We remain underweight” on CSN, declares Alba, who has directed the team since 2009. — Leslie Kramer |