Bought 3 stocks in a Latam country, 1% each:
- Single digit PEs. The digits can be counted on one hand. Double digit dividends.
- May go up 2-3X when the political situation normalises, elections in 1 or 2 years.
- Small chance that the political situation goes to shit and they go to zero.
I want to increase holdings in EMs (ex China). I think we get a falling USD over the long term, and go up after years of underperformance. But no rush....its years of underperformance, so could easily go on another year.
A sudden fall in USD (like 10% from a "Mar-Largo accord") is not something I'm well positioned for. Nearly 40% of my portfolio is domestic US companies. The US could alternatively unilaterally devalue its currency (printing money and buying bonds) over the next year.
Bought another 1% of Sandstorm Gold. A company that has future streams of gold and current debt is another way to play a falling USD.
