I have no view what has gotten into Brazil today as the iShares Brazil (EWZ) is up nearly 9%; that’s the large caps index.. but Gafisa (GFA) is up 14% and since I just added to that Monday in the $38s [Bookkeeping: Adding Gafisa] I am going to cut back a bit here in the $43s. whether anyone knows why Brazil is so happy today let me know in comments area; I do have a pretty good view why Brazil is happy overall. It’s Samba duration!

Gafisa is now down to a 1.5% stake

(it had appreciated to 2.1%); I will let more go north of $45 whether we get there. Otherwise I am subject matter to hold the rest since unlike my other homebuilders it’s not in the United States of Subprime.

Totally unrelated educational moment of the day: Most Americans have the misconception that Spanish is the language of Brazil. It is actually Portuguese.

Long Gafisa in fund and personal account

Original post by TraderMark