BRAZILBRAZIL

Investment OpportunitiesInvestment Opportunities

Simpson Investment Advisors, Simpson Investment Advisors, Inc.Inc.

Brief History of the Brief History of the Brazilian EconomyBrazilian Economy

Debt crisis in the 1980sDebt crisis in the 1980s• increased foreign borrowingincreased foreign borrowing• rising international interest ratesrising international interest rates

Recent recovery of the economyRecent recovery of the economy Research Department’s report on Research Department’s report on

the history of the economythe history of the economy

Why is the Brazilian Why is the Brazilian Economy Ready for Economy Ready for Foreign Investment?Foreign Investment?

Rising ExportsRising Exports

To the U.S.To the U.S. To EuropeTo Europe To Latin AmericaTo Latin America

UnderevaluationUnderevaluation

Specific stocksSpecific stocks Government debtGovernment debt

Overview of Possible Overview of Possible InvestmentsInvestments

Political StabilityPolitical Stability

Current Current LeadershipLeadership

Free ElectionsFree Elections

Stocks in Specific Stocks in Specific IndustriesIndustries

CoffeeCoffee SteelSteel ChemicalChemical

BondsBonds

Short termShort term Long termLong term

ConclusionConclusion

Reasons to invest Reasons to invest through Simpson through Simpson Investment Investment AdvisorsAdvisors• rate of return on rate of return on

investmentsinvestments• global tradingglobal trading• highly trained highly trained

professionalsprofessionals To Summarize...To Summarize...