The 2014 Latin America Research Team: Cement & Construction, No. 1: Gordon Lee, Marcello Milman & team

Gordon Lee, Marcello Milman & team BTG Pactual First-place appearances: 6

Total appearances: 7

Team debut: 2007

The five BTG Pactual researchers under the direction of 41-year-oldGordon Leein New York and São Paulo–basedMarcello Milman, 33, “set the standard for the sector,” one admirer attests. No wonder then that the firm extends its winning streak on this roster to a third straight year — and notches its sixth No. 1 finish since 2007. This squad also captures first place for a third straight year in Real Estate. Altogether, the analysts monitor 37 Latin American stocks, with more likely to be added as they further identify opportunities in Colombia, Mexico and Peru. “They have the breadth of coverage and years of experience to render the best research available,” acclaims another fund manager. In June 2013 they resumed coverage of Cementos Argos with a buy rating, citing a 33 percent jump in new construction licenses for the year. Sure enough, the Colombia-based concrete producer and construction supplier subsequently saw its order flow and earnings rise, and by late July 2014, its stock had bolted 50.3 percent, to 11,240 Colombian pesos. That advance bested even the impressive 34.6 percent gain the sector posted. Going forward, Mexico’s Cemex is a favorite. Thanks to the rebounding domestic economy, BTG’s researchers are maintaining their long-standing bullishness on the building-products provider. Over the 12 months through late July, the stock jumped 20 percent, to 16.83 Mexican pesos, and they anticipate that it could rise at least 20 percent higher. This year, Lee also joins with Carlos Eduardo Sequeira in captaining crews that merit runner-up positions in Technology, Media & Telecommunications and for their reporting on Mexico.