No one covering the Latin American markets could escape the impact of Argentina's financial crisis that has dragged on for almost a year. Stock markets tumbled, currencies wavered, confidence crumbled. The Latin American analysts competing for LatinFinance's 117 awards in 39 categories this year were once again forced to cope with growing uncertainty.
Hardly a year passes without a new crisis. In 1999, Brazil was forced to devalue the real. In 1998, Russia's domestic debt default hit emerging markets around the world hard. In 1995, Mexico's entire banking system collapsed when the peso plunged.
This has meant that the analyst's job has become much more than just crunching numbers or making recommendations. Research analysis requires unraveling political, social and economic trends too. Lore Serra, Morgan Stanley's gold medallist in the food and beverage sector says, "I stepped on the sidelines early with any stocks with any exposure to Argentina."
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