Third teamMarcos Assumpção & teamItaú BBA Climbing from runner-up to the third team is the Itaú BBA trio headed by São Paulo–based Marcos Assumpção, who also captains the No. 1 team in Pulp & Paper. In January the crew wowed clients with a valuation-based contrarian downgrade on the American depositary receipts of Ternium from outperform to market perform, at $40.63. The ADRs of the steel producer, which is headquartered in Luxembourg but operates primarily in Argentina and Mexico, had plummeted 28.6 percent, to $28.99, by late July. During the same period the sector fell 17 percent. “Marcos has a high level of industry knowledge and is always available to us,” cheers one backer.