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Shocked that companies and mutual funds would invest OPM (Other People's Money) in high-risk investments, the Shocked Investor was originally on a mission to find out if our money ended up in these dubious instruments. This blog now also discusses other financial topics, such as straddles, options, gold, natural gas, agri/food stocks, and the collapse of the US Dollar.
Brazil has 5 banks among the top 20 most profitable banks in the US and Latin America, according to a report by Economatica. Amazingly, among Latin American banks, only Itau and Unibanco actually showed a drop in profitability in the third quarter. Since Itau bought Unibanco, they would actually rank 2nd on the list with a combined profit of $1.3B.
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