Carlos Eduardo Sequeira & team BTG Pactual First-place appearances: 2
Total appearances: 15
Team debut: 1997 For a third consecutive year, BTG Pactual captures the No. 3 position on this lineup. The four analysts are guided by Carlos Eduardo Sequeira, who also co-captains squads that earn runner-up positions in two additional sectors: Equity Strategy (with Antonio Junqueira); and Technology, Media & Telecommunications (with Gordon Lee). Based in Rio de Janeiro, they maintain a bearish stance on their country’s prospects. “Brazil’s economic fundamentals have been deteriorating,” says Sequeira, “and we don’t expect any improvements anytime soon.” Sectors they deem the safest include education, which remains buffered by a government financing program; and financials, whose earnings visibility and growth they forecast to be strong through year’s end. Strong performers in the latter group are projected to be Brasília’s BB Seguridade Participações, the insurance unit of Banco do Brasil; Cielo, Brazil’s largest operator of credit and debit card systems, which is headquartered in Barueri; and São Paulo–based diversified bank Itaú Unibanco Holding. Among education names, the BTG Pactual team advises, the best bets are postsecondary services providers Estácio Participações of Rio and Ser Educacional, headquartered in Recife.