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Industries – Metals & Mining: 2013 First Marcos Assumpção
Itaú BBA’s Marcos Assumpção, who spent the past three years in second place, climbs the final rung to top the sector for the first time;
Itaú BBA’sMarcos Assumpção, who spent the past three years in second place, climbs the final rung to top the sector for the first time; he is also No. 1 in Pulp & Paper. The São Paulo–based researcher highlighted his underperform rating on Cía. Siderúrgica Nacional in August 2012, at 9.86 reais, even though the shares had already plunged more than 43 percent since March of that year. Assumpção, 37, believed that the São Paulo–based iron and steel miner’s inefficient capital structure, coupled with management’s lack of focus, would continue to constrain growth. By mid-July 2013 the stock had tumbled 43.1 percent, to 5.61 reais, and trailed the sector by 16.9 percentage points, since the reiteration. “Marcos makes a strong case and sticks with it,” attests another satisfied client. Assumpção, who earned an MBA at Universidade Federal do Rio de Janeiro, covered basic materials companies for Bank of America Merrill Lynch before moving to Itaú in 2009. He currently monitors six stocks. —Ben Mattlin |
