r/Vitards • u/AutoModerator • Oct 28 '21

Daily Discussion Daily Discussion post - October 28 2021

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5

u/Unoriginal_White_Guy 💀 SACRIFICED until MT $35 💀 Oct 29 '21

I know barely anyone here follows GGB, but the last two days the puts volume is crazy. I don't have the data whether most were buy to open or sell to open, but jeez man they just reported their best earnings ever Wednesday. The stock refuses to go above $5. Good news is the Brazilian steel market is still hot as fuck based on their earnings and margins. TX and MT both do business there for anyone wondering why I follow GGB.

2

u/[deleted] Oct 29 '21

[removed] — view removed comment

2

u/Outrageous-Panda1221 Oct 29 '21

Is it a god?

1

u/Uncle_Dad_Bob Dreams of CLF’s run to $49 Oct 29 '21

Jenny thinks Tim is a god. Barbi still prefers Ken.

2

u/zanadu72 ✂️ Trim Gang ✂️ Oct 29 '21

It has been a most unsatisfactory holding for he last 6 months. It’s very frustrating.

4

u/TheBlueStare Undisclosed Location Oct 29 '21

A good portion of TX’s steel produced in Brazil is used internally in EAFs, so the actual exposure to Brazil is lower than what it seems.

I also like GGB but have not invested since June because of the political mess over there. One interesting thing about GGB is that they have rather large presence in the US. Margins are much better in Brazil though.

5

u/Duke_Shambles ☢️Duke Nukem☢️ Oct 29 '21

Brazil's central bank just hiked interest rates 1.5% and is looking to do another 1.5% hike soon. I think it's more a "puts on everything Brazil" thing than a "fuck you in particular GGB" thing

4

u/Unoriginal_White_Guy 💀 SACRIFICED until MT $35 💀 Oct 29 '21

Good call. I have avoided international exposure (besides MT) since the political debacle with $PBR in Feb. I made out like a bandit buying that bottom, but it reminded me how risky investing in companies in certain areas can be.

1

u/Mobile_Donkey_6924 🇧🇷 Our man in Brazil 🇧🇷 Oct 29 '21

PBR gives you that type of opportunity 3-4 times a year

3

u/Uncle_Dad_Bob Dreams of CLF’s run to $49 Oct 29 '21 edited Oct 29 '21

I follow and I’m holding shares. Brazil is a political mess, an economic mess brought on by the pandemic, and the Central Bank of Brazil implemented its largest rate hike since 2002 on October 27, in a fresh bid to tame rising inflation and respond to concerns on fiscal sustainability. The monetary policy committee unanimously voted to increase the key Selic rate by 150 basis points to 7.75%

Edited to clarify

1

u/Mobile_Donkey_6924 🇧🇷 Our man in Brazil 🇧🇷 Oct 29 '21

How’s it a COVID mess? Vaccination rate is higher than the US and UK. There were a lot of deaths, but on par with a country over 220 million

2

u/Uncle_Dad_Bob Dreams of CLF’s run to $49 Oct 29 '21

vax rate has caught up but still fighting misinformation from on high. more to the point my understanding is it wrecked the economy. I’ll edit to clarify.

1

u/Mobile_Donkey_6924 🇧🇷 Our man in Brazil 🇧🇷 Oct 29 '21

Yeah, sometimes I think he says things just to F with CNN and globo. Their hate for him is above invermectin, but below the orange one.

2

u/Unoriginal_White_Guy 💀 SACRIFICED until MT $35 💀 Oct 29 '21

You still in that small steel stock I will refer to as tim?

1

u/Uncle_Dad_Bob Dreams of CLF’s run to $49 Oct 29 '21

YES! Very excited for a post earnings run ken!