By Vinícius Andrade
Legacy Capital recently set up a small long position (bet on the rise) in the dollar against the real amid expectations of a deteriorating fiscal situation under the elected government of Luiz Inácio Lula da Silva (PT, progressive-globalist).
“The current exchange rate does not reflect the fiscal worsening that will be contracted”, said Gustavo Pessoa, founding partner of Legacy, which has more . . .