Still bullish on Brazil

Smart Money columnist James Stewart writes that he has been taking profits on his oil positions but remains bullish on Brazil.

Stewart has exposure to Brazil through the iShares MSCI Brazil Index Fund (EWZ).  The fund’s largest holding is Petrobras, a firm with enormous oil producing potential.

The Brazil ETF’s second largest holding is Vale, a metals and mining company.  The two top holdings make up over 38% of the fund’s portfolio.

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