Carlos Constantini & team Itaú BBA First-place appearances: 2
Total appearances: 14
Team debut: 1993 Slipping to second place after two years at No. 1 is São Paulo–based Carlos Constantini’s 36-strong Itaú BBA troupe. The researchers work from offices in Argentina, Brazil, Chile and Mexico, and are urging clients to refrain from making any big moves in Brazilian equities until after that nation’s October general elections. In the meantime, they are sticking with the positioning they have been recommending over the past year. Investors should “remain defensive, with a low-beta portfolio aimed at offering downside protection and high-quality earnings,” says Constantini. Preferred names on this theme include two São Paulo–based industry leaders: beer and beverages producer Cía. de Bebidas das Américas, or AmBev; and Ultrapar Participações, a long-standing favorite whose business segments are focused on chemicals, fuel and integrated logistics solutions.p>