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
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
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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