Congresso Value Investing Brasil 2014

(MAY 22, 2014)

CONGRESS PROGRAM (Portuguese - click here)


Adriano Seabra — Opus Gestão de Recursos (Rio de Janeiro)
Panel: “Investment Picks”
Portfolio manager of Opus Ações FIA since April 2012, having joined Opus in October 2011 as co-portfolio manager of this fund. Formerly, Adriano Seabra was a partner and the equities manager at Teórica Investimentos. From 2004 to 2008, he was a partner with GAP Asset Management and co-manager of the funds GAP Ações FIA and GAP Long & Short FIM. He has also been an equity analyst at Banco de Investimentos Garantia / Credit Suisse, in Brazil and in Mexico. He has worked at Andersen Consulting (currently Accenture), having started his career at the treasury department of Shell do Brasil. Adriano Seabra was awarded the CFA — Chartered Financial Analyst — designation and graduated in Electronic Engineering from Universidade Federal do Rio de Janeiro (UFRJ).

André Gordon — GTI Administração de Recursos (São Paulo)
Panel: “Investment Picks”
Founding partner with GTI Administração de Recursos, an independent investment management company focusing on Brazil’s stock market. During his more than 21 years of experience in financial markets, André Gordon has worked at the trading desks of several renowned financial institutions, including Banco Itaú BBA, Banco Pátria, Santander and Banco Bozano, Simonsen. He is a member of AMEC’s Audit and Technical Committees and holds a master’s degree in Economics from EPGE/FGV-RJ and an Economics degree from FEA/USP.

Antenor Gomes Fernandes — STK Capital (Rio de Janeiro)
Panel: “Investment Picks”
Founding partner and CIO at STK Capital. From 2008 to 2010, Antenor Fernandes was vice president of Banco Safra in São Paulo, responsible for the bank’s Wealth Management and Private Banking divisions. From 2004 to 2008, he was head of Safra Asset Management in New York. From 1999 to 2004, he was responsible for the equity and the funds divisions of Safra National Bank of New York. From 1997 to 1998, he worked as an equity analyst at Paribas bank in New York. From 1991 to 1995, he worked in the Corporate Finance department of Unibanco in São Paulo. Antenor Fernandes graduated in Economics (1990) from Universidade Candido Mendes, in Rio de Janeiro, and holds an MBA (1997) from Columbia University, in New York.

Breno Guerbatin — Studio Investimentos (Rio de Janeiro)
Panel: “Investment Picks”
Member of Studio Investimentos’ Investment Committee and co-portfolio manager of Studio FIC FIA, which returned 61.9% since inception, at the end of 2009 (until the end of March, 2014), contrasting with a loss for the Ibovespa Index of 25.8% during the same period. In 2009, Breno Guerbatin was a manager with TV Globo. From 2008 to 2009, he was an equity analyst and member of the Managing Committee of BNY Mellon ARX. From 2005 to 2008, he was partner and Investment Officer of Brazil Energy, a private-equity boutique focused on energy and infrastructure. From 2002 to 2005, he was an investment analyst and a fund manager at Opportunity Asset Management. Breno Guerbatin graduated in Production Engineering from UFRJ and has a postgraduate Degree in Corporate Law from FGV-RJ.

Cassiano Leme — Constância Investimentos (São Paulo)
Lecture: “Value investing in private equity”
Founder of Constância Investimentos and manager of Constância Ações FIA. Formerly, Cassiano Leme was CFO with T4F Entretenimento S.A. (from 2007 to 2008); CFO with Medial Saúde S.A. (from 2006 to 2007), having participated in its IPO and subsequent acquisitions; an executive with Darby Overseas Investments, a private equity firm specialized in emerging markets and part of the Franklin Templeton group (from 2005 to 2006); managing-partner with Mídia Investimentos, a private equity firm that invested in Brazil for Deustche Bank Private Equity (from 2001 to 2004). Cassiano Leme started his career working from 1992 to 2000 at J.P. Morgan & Co. in New York and São Paulo, predominantly as a manager of the private equity division and partner of Latin America Capital Partners, a private equity fund of $700 million. He graduated from Fundação Getulio Vargas in São Paulo and received his MBA with honors from Columbia University in New York.

Fabio Alperowitch — FAMA Investimentos (São Paulo)
Lecture: “Investment Case — Anatomy”
Fabio Alperowitch, CFA is a founding partner with FAMA Investimentos, an independent investment management firm founded in 1993 that focuses on small-cap stocks and private equity and currently manages about R$ 1.5 billion, predominantly from universities, pension funds, and insurance companies. FAMA’s most traditional fund — Futurewatch — has a return of 28,5% per year compounded for 21 years. Fabio Alperowitch is in the Board of Directors of LogIn and Even. He graduated in Business Administration from Fundação Getulio Vargas and was awarded the CFA — Chartered Financial Analyst — designation.

Guilherme de Morais Vicente — Mauá Sekular (São Paulo)
Panel: “Investment Picks”
Guilherme Vicente is partner and head of equity-fund management at Mauá Sekular. Formerly, he was founding-partner and portfolio manager at Apoena Investimentos. He started his career at GPS - Global Portfolio Strategists, where he became head of equities and, in April 2005, started his first Clube de Investimentos, ORION, later on converted into a fund and which has returned 20% per year since inception (compared with 12% per year from the CDI fixed-income Brazilian index and 13% per year from the Ibovespa index during the same period). Guilherme Vicente is a Board member at AMEC and a member of the Audit Committee at Fras-le. He graduated in Business Administration from Fundação Getulio Vargas (EAESP).

Henrique Meirelles — J&F Investimentos (São Paulo)
Opening Lecture: “Macro Brazil: Update and Outlook”
Chairman of the Board of J&F, the holding company that controls JBS SA, Chairman of Brazil’s Olympic Public Committee, Chairman of the Board of Lazard Americas, Senior Advisor to Kohlberg Kravis and Robert’s (KKR), Chairman of the Advisory Board of Bedrock, Lloyd’s (London) Board Member and also member of the Board of Directors of Azul Linhas Aéreas Brasileiras. From 2003 to 2010, Henrique Meirelles was President of the Central Bank of Brazil. Formerly, he was President of BankBoston Corporation. Henrique Meirelles is also the founder and President of Associação Viva o Centro whose mission, since 1990, has been the revitalization of downtown São Paulo. In 2002, he was the most-voted Congressman elected in the State of Goiás.

Leonardo Messer — Oceana Investimentos (Rio de Janeiro)
Panel: “Investment Picks”
Portfolio manager at Oceana Investimentos. Before joining Oceana, Leonardo Messer was a partner with Meta Asset Management (from 2006 to 2008), responsible for managing its equity and long-short funds. He was a partner with Investidor Profissional Gestora de Recursos (IP), having worked for four years in equity-portfolio management and equity analysis (from 2002 to 2006). Formerly, he worked at Banco Pactual (from 1999 to 2002). Leonardo Messer graduated in Production Engineering from PUC-RJ.

Luiz Francisco Guerra — PRAGMA Patrimônio (São Paulo)
Lecture: “Manager Selection Process: Important Aspects”
As a partner with PRAGMA, Luiz Francisco Guerra is responsible for managing liquid assets, focusing on international and domestic stocks. Formerly, he was an equity portfolio manager with Janos since 2000 and, starting in 2002, also a member of its allocation committee. He worked at VBC Energia (Votorantim, Bradesco e Camargo Corrêa) — participating in Brazil’s electrical sector privatization process — and was a financial officer with Grupo Abril. He is in the Board of Directors of Pini Editora and Grupo Klick. He is a CFA and holds a master’s degree in Business Administration from Fundação Getulio Vargas and a Production Engineering degree from Universidade de São Paulo.

Mauricio Bittencourt — M Square Investimentos (São Paulo)
Lecture: “Disciplined Allocation: When and Why Not To Be Invested”
Partner with M Square since April 2007 and manager of the firm’s Brazilian-equity funds. Before joining M Square, Mauricio Bittencourt was an associate partner with Banco Pactual (2005-2007), a partner with Synthesis Asset Management/Synergy Funds (2003-2005), and a partner/portfolio manager with Investidor Profissional (1992-2003). He has a bachelor’s degree in Economics from Universidade Federal do Rio de Janeiro.

Pedro Hermanny Diniz — Impacto Investimentos (Belo Horizonte)
Panel: “Investment Picks”
Founding partner and portfolio manager with Impacto Investimentos, Pedro Diniz has 17 years of experience in financial markets, focusing on analysis and equity-portfolio management, adopting the value approach. Pedro Diniz received a graduate degree in Economics from Universidade Federal de Minas Gerais and an MBA in Finance from Ibmec. He is an Apimec member and has served as Fiscal Director in several public companies.

Thomas de Mello e Souza — Gávea Investimentos (Rio de Janeiro)
Panel: “Investment Picks”
Senior equity manager at Gávea, having joined the firm as partner and director of investments in June 2011. In 2008, he founded AguasClaras Investimentos, an investment management firm focused on Brazilian equities (2008-2011). He was executive director responsible for managing equities and strategic investments at JSI Investimentos, Mr. Joseph Safra’s family office (2004-2007). Formerly, he was a director of Merrill Lynch in Brazil (1994-2004), responsible for the sell side department, and a senior analyst of the mining, steel, and pulp and paper industries. Several times he was ranked among the best analysts by “Institutional Investor” and “Latin Finance” magazines. He graduated in Economics from Clark University, Massachusetts.

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