Congresso Value Investing Brasil 2018

MAY 15, 2018

EVENT SCHEDULE (click here)


Breno Guerbatin — Studio Investimentos (Rio de Janeiro)
Lecture: “Bull Markets: Are Equity Indexes Unbeatable?”
Member of Studio Investimentos’ Investment Committee and co-portfolio manager of Studio FIC FIA, which returned 173.0% since its inception, at the end of 2009 (until the end of April 2018), contrasting with a gain for the Ibovespa Index of 26.8% during the same period. In 2009, Breno Guerbatin was a manager with TV Globo. From 2008 to 2009, he was an equity analyst and a member of the Managing Committee of BNY Mellon ARX. From 2005 to 2008, he was a partner and the 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.

Felipe Nobre — Verde Asset Management (São Paulo)
Panel: “Investment Picks”
Member of Verde Asset Management’s investment team since 2013, Felipe Nobre is a public-equities analyst responsible for the Financial Services, Insurance, Healthcare, and Aviation sectors. Formerly, he worked in the investment banking division of Goldman Sachs and, for six years, in strategic consulting at McKinsey. Felipe Nobre graduated in Electronic Engineering from Instituto Tecnológico de Aeronáutica - ITA and holds an MBA from Harvard Business School.

Flavio Sznajder — Bogari Capital (Rio de Janeiro)
Lecture: “Current Investment Cases”
Founding partner with Bogari Capital and manager of Bogari Value FIA, an equity fund that obtained from November 2006 (still as a Brazilian investment club) until the end of April, 2018 gains of approximately 2,226% (or 31.5% per year) — which contrast with the gain of, approximately, 120% of the Ibovespa index (or 7.1% per year) during the same period. Formerly, Flavio Sznajder was member of the Finance Committee with Telemar Participações, Investment Officer with Andrade Gutierrez Telecomunicações, member of the Investment Committee with infrastructure fund AG-Angra, member of the Board of Directors with TG Agro ethanol plant, member of the Board of Directors with Pegasus Telecom and senior associate with Booz-Allen & Hamilton and Gradus Management Consultant. He received a a B.S. in Engineering from PUC-RJ and an MSc in Business Administration from Coppead-UFRJ.

Henrique Meirelles — Brazil’s Minister of Finance between 2016 and 2018 (Brasília)
Opening Lecture: “Macro Brasil: Election Phase Perspectives”
Henrique Meirelles was nominated Brazil’s Minister of Finance in May of 2016 and held office until April of 2018. From 2003 to 2011, he presided the Central Bank of Brazil, having been the institution’s longest-standing president. In the private sector, he presided BankBoston Corporation, was chairman of the investment bank Lazard Americas and a senior advisor to Kohlberg Kravis and Roberts (KKR). He was a member of the Board of Directors of Lloyds of London and of Azul Linhas Aéreas Brasileiras, as well as of other companies such as Raytheon Corporation, Bestfoods, Champion International, BankBoston Corporation and FleetBoston Financial. He directed the construction of Banco Original’s digital platform. He was a member of the Board of Harvard Kennedy School of Government, of MIT’s Sloan School of Management, and of Boston College’s Carroll School of Management. Henrique Meirelles is 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 elected Congressman, historically the most-voted in the State of Goiás.

Julio de Morais Erse — Constância Investimentos (São Paulo)
“Investment Approaches and Factors in Brazil: from ‘Value’ to ‘Low Volatility’ ”

Partner with Constância Investimentos, Julio Erse has more than 20 years of experience in derivatives strategies, including hedging, arbitrage and volatility carry investment programs. He founded NP Investimentos — which recently merged with Constância Investimentos — where he managed the long & short and volatility strategies. Julio Erse is also the founder of Nitor Investimentos — which was acquired by Banco BANIF — and was a member of the management team responsible for R$ 1 billion in investment funds and hedge funds at BANIF NITOR. Formerly, he was responsible for proprietary trading of derivatives at UBS in Brazil and head of equity derivatives trading for Deutsche Bank in Brazil. Julio Erse holds a B.A. in Business Administration from PUC-SP.

Luiz Ferreira — Prumo Capital (São Paulo)
Panel: “Investment Picks”
Luiz Ferreira is founding partner and portfolio manager with Prumo Capital. Between 2011 and 2012, he was partner and co-portfolio manager with Quatrinvest Administração de Recursos. Between 2008 and 2011, he was Head of Safra Asset Management, in New York. Between 2004 and 2008, he was Senior Vice President of Safra Asset Management, in New York. Between 2001 and 2004, he was an investment analyst with Safra National Bank of New York. Luiz Ferreira graduated in Business Administration from Fundação Armando Alvares Penteado (1998) and has a postgraduate Degree in Finance from Harvard University.

Mark Lewand — Weiss Asset Management (Boston)
Lecture: “Investing and Economic Arbitrage”
Mark Lewand is Head of Investor Relations at Weiss Asset Management LP (WAM). WAM manages multiple investment vehicles, including private hedge funds that employ economic arbitrage strategies. Founded by Dr. Andrew Weiss, an academic economist, WAM is based in Boston, has 55 employees and assets under management of approximately $1.9 billion. Mark is responsible for managing the firm’s relationships with clients and the investment community at large. Prior to WAM, Mark held similar roles at 400 Capital Management in New York, and Cambridge Place Investment Management (CPIM), in both London and Boston. Previous to joining CPIM in 2003 Mark worked for The Prince’s Trust, a micro-finance charity in the UK. Mark is a US and UK National and a graduate of the University of Kent.

Nathan Shor — Galloway (São Paulo)
Lecture: “High-Yield Debt Investing in Emerging Markets”
Nathan Shor is co-founder and portfolio manager of Galloway, a fund that invests in emerging-market, high-yield debt. Formerly, he was engaged in structuring the emerging-market, fixed-income desk of Convenção (a Brazilian broker-dealer). From 2000 to 2003, he worked as an entrepreneur in Internet-related projects. He started his professional career at the Nash fund in 1998 (at which he worked until 2000), being responsible for the emerging markets and fixed-income division. Nathan Shor holds a BSBA from the University of Boston and a Masters in Finance from IESA (Instituto de Estudios Superiores, Caracas, Venezuela).

Priscila Fernandes de Araújo — Victoire (São Paulo)
Painel: “Investment Picks”
Portfolio manager of Victoire Investimentos’ absolute-return LatAm Equity strategy since 2013. Priscila Araújo joined Victoire Investimentos in 2005 as a research analyst and became a partner in 2009, while co-managing the LatAm Equity strategy. Formerly, she was a portfolio manager at SSB Citigroup Asset Management in São Paulo, where she also coordinated the investment committee and was directly responsible for 90 institutional mandates and 25 mutual funds (R$ 2.5 billion in AUM). At Citigroup Private Bank, she was a product specialist, identifying opportunities in the equities, derivatives, interest-rate, and foreign-exchange markets. Priscila Araújo graduated in Business Administration from Fundação Getúlio Vargas – FGV (São Paulo) and holds an Executive MBA in Finance from INSPER – Instituto de Ensino e Pesquisa (former IBMEC in São Paulo). She is a member of Brazil’s CFA Society and of the Board of Directors of Fundação Visconde de Porto Seguro.

Vinícius Gierkens Ferreira — Opportunity (Rio de Janeiro)
Panel: “Investment Picks”
Vinícius Ferreira is part of public-equities management team at Opportunity, which he joined in 2015. Formerly, he was an equity analyst at Guepardo Investimentos. He has also worked as an equity analyst and, later on, as a portfolio manager of an equity fund, at Personale Investimentos. Vinícius Ferreira graduated in Production Engineering from PUC-RJ and holds an MBA from Columbia Business School.

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