Stock Pick: Banco Bradesco (BBD) at 2005-12-04 19:53:36
I had some cash to use today and bought Brazilian bank Banco Bradesco (NYSE: BBD). I wanted to increase my international stock exposure. The only other ADR that I own is America Movil (AMX). Banco Bradesco is benefiting from a growing Latin American economy and increased foreign investment. With a growing economy there is great demand for cars in Brazil and they need loans. Banco Bradesco will continue to benefit from loan growth. I was considering buying Unibanco (UBB) but I feel (BBD) has better momentum. I still believe both are good investments.
With this purchase my portfolio is 10% ADR/International stocks.
