IBOV 176,641.10 ▲ 0.51% IPSA 11,024.10 ▲ 1.05% IPC MEX 66,529.27 ▲ 0.85% MERVAL 3,229,323 ▼ 0.18% COLCAP 2,298.73 ▼ 0.39% BVL PERÚ 56,428.20 — — USD/BRL5.07▲ 0.03% USD/MXN17.42▼ 0.03% USD/CLP925.95▼ 0.07% USD/COP3,247▲ 0.33% USD/PEN3.41▲ 0.55% USD/ARS1,470▼ 0.88% USD/UYU40.23▲ 0.99% USD/PYG6,039▲ 1.12% USD/BOB10.35▲ 6.04% USD/DOP58.20▼ 0.17% USD/CRC448.93▲ 1.31% USD/GTQ7.62▲ 2.07% USD/HNL26.73▲ 1.38% USD/NIO36.62▲ 0.31% USD/VES722.19▼ 0.13% USD/PAB1.00— 0.00% USD/BZD2.00— 0.00% USD/JMD157.59▲ 0.64% USD/TTD6.75▲ 1.19% EUR/BRL5.79▼ 1.09% BRENT 85.61 ▲ 1.04% WTI 80.08 ▲ 0.93% IRON ORE 161.91 — — COPPER 6.36 ▲ 0.52% GOLD 4,035 ▼ 0.65% SILVER 58.32 ▼ 0.78% SOY 1,197 ▼ 0.87% CORN 465.75 ▲ 7.38% WHEAT 666.25 ▲ 5.54% COFFEE 322.15 ▼ 4.46% SUGAR 14.76 ▼ 0.81% ORANGE JUICE 140.90 ▼ 1.16% COTTON 81.10 ▲ 1.88% COCOA 5,724 ▲ 1.13% BEEF 227.75 ▼ 2.97% CATTLE 349.63 ▼ 1.33% LITHIUM 71.58 ▼ 1.02% PETR4 40.66 — 0.00% VALE3 74.01 ▲ 1.59% ITUB4 43.63 ▲ 0.25% BBDC4 18.63 ▼ 0.75% ABEV3 15.81 ▼ 0.13% BBAS3 20.59 ▲ 1.73% B3SA3 15.33 ▲ 1.39% WEGE3 44.20 ▼ 0.43% PRIO3 57.57 ▲ 0.65% SUZB3 41.11 ▼ 0.92% RENT3 40.54 ▲ 0.85% AZZA3 18.85 ▼ 1.93% CSAN3 3.89 ▼ 0.26% RAIZ4 0.31 ▼ 6.06% PCAR3 2.45 ▼ 5.41% GMAT3 3.96 ▲ 0.51% PSSA3 54.29 ▲ 0.46% CVCB3 1.38 ▲ 10.40% POSI3 3.99 — 0.00% SLCE3 13.81 ▼ 0.43% NATU3 8.55 ▼ 0.58% BRKM5 6.83 ▼ 1.59% RANI3 8.01 ▲ 0.75% CSNA3 5.20 ▼ 0.76% CMIN3 5.10 ▼ 6.42% USIM5 8.23 ▼ 1.79% GGBR4 23.32 ▲ 2.19% ENEV3 27.17 ▲ 1.08% CPFE3 47.20 ▲ 0.77% CMIG4 11.20 ▲ 1.17% EQTL3 40.95 ▲ 1.84% LREN3 14.29 ▲ 0.99% VIVT3 35.52 ▲ 2.27% RAIL3 14.13 ▲ 0.14% KLABIN 17.32 ▼ 0.92% RAIA DROGASIL 18.60 ▲ 2.20% RDOR3 36.05 ▲ 1.38% HAPV3 11.19 ▲ 6.98% FLRY3 16.41 ▲ 1.61% SMTO3 16.12 ▼ 1.53% UGPA3 30.11 ▼ 2.65% VBBR3 33.30 ▲ 1.65% BBSE3 40.39 ▲ 0.27% BPAC11 57.95 ▲ 0.75% CURY3 33.59 ▲ 1.42% AERI3 2.07 ▼ 0.48% VIVARA 23.43 ▲ 1.38% COMPASS 25.20 ▲ 1.74% VAMOS 3.15 ▲ 4.30% SANB11 27.34 ▼ 0.11% ASAI3 8.66 ▼ 0.57% SBSP3 30.34 ▼ 0.10% WALMEX 49.32 ▼ 0.66% GMEXICO 199.61 ▲ 2.06% FEMSA 232.52 ▲ 3.18% CEMEX 22.24 ▲ 2.11% GFNORTE 186.00 ▲ 2.16% BIMBO 56.55 ▲ 1.22% TELEVISA 9.49 ▼ 1.25% AMX 22.83 ▲ 1.06% GAP 394.05 ▼ 3.46% ASUR 275.61 ▼ 1.09% OMA 235.49 ▲ 0.93% KOF 180.00 ▼ 0.92% GRUMA 280.31 ▼ 0.38% KIMBER 38.53 ▲ 0.81% SQM-B 67,900 ▲ 1.03% COPEC 6,210 ▲ 2.52% BSANTANDER 78.64 ▲ 0.56% FALABELLA 5,875 ▼ 0.51% ENELAM 85.75 ▲ 1.84% CENCOSUD 2,040 — 0.00% CMPC 1,103 ▲ 2.32% BANCO CHILE 189.50 ▲ 2.43% LATAM AIR 24.90 — 0.00% YPF 77,775 ▲ 0.78% GGAL 7,910 ▼ 2.10% PAMPA 5,230 ▲ 0.10% TXAR 665.00 ▲ 0.08% ALUAR 949.00 ▼ 1.61% TGS 9,710 ▲ 1.46% CEPU 2,327 ▲ 0.35% MIRGOR 16,750 ▼ 1.47% COME 45.75 ▲ 2.17% LOMA NEGRA 3,540 ▲ 1.22% BYMA 302.50 ▼ 1.87% TELECOM ARG 4,333 ▲ 1.94% ECOPETROL 16.16 ▲ 1.76% BANCOLOMBIA 82.10 ▲ 2.09% GRUPO AVAL 4.95 ▲ 0.81% CREDICORP 392.24 ▲ 0.78% SOUTHERN COPPER 182.38 ▲ 4.50% BUENAVENTURA 31.03 ▲ 4.06% MERCADOLIBRE 1,874 ▲ 0.35% NUBANK 13.99 ▲ 2.34% XP 16.87 ▲ 3.05% PAGSEGURO 9.28 — 0.00% STONE 11.30 ▲ 1.35% GLOBANT 30.92 ▼ 3.74% TECNOGLASS 44.19 ▲ 3.15% GAP AIRPORT 225.95 ▼ 2.93% ASUR 275.61 ▼ 1.09% OMA AIRPORT 107.64 ▲ 1.42% AMX ADR 26.18 ▲ 0.58% FEMSA ADR 133.17 ▲ 3.22% CEMEX ADR 12.80 ▲ 2.81% PETROBRAS ADR 17.92 ▲ 0.22% VALE ADR 14.59 ▲ 2.89% ITAU ADR 8.55 ▲ 0.94% SANTANDER BR 5.40 ▲ 0.84% AMBEV ADR 3.09 ▲ 0.98% CSN 1.04 ▲ 0.49% GERDAU 4.61 ▲ 2.67% LATAM ADR 53.51 ▲ 0.34% BTC 64,604 ▼ 0.54% ETH 1,877 ▼ 0.67% SOL 77.29 ▼ 0.61% XRP 1.11 ▼ 0.31% BNB 578.23 ▼ 0.61% ADA 0.16 ▼ 0.56% DOGE 0.07 ▼ 0.94% AVAX 6.65 ▼ 0.70% LINK 8.33 ▼ 0.15% DOT 0.85 ▼ 0.20% LTC 45.47 ▲ 0.08% BCH 234.24 ▼ 0.95% TRX 0.33 ▲ 0.67% XLM 0.18 ▼ 0.07% HBAR 0.07 ▼ 0.11% NEAR 2.05 ▲ 2.19% ATOM 1.56 ▲ 0.13% AAVE 98.03 ▼ 0.86% SELIC 14.25% EMBRAER 82.49 ▼ 0.63% EMBRAER ADR 64.91 ▲ 0.67% JBS 11.83 ▲ 0.25% JBS BDR 59.75 ▼ 1.42% MBRF3 16.09 ▲ 2.35% MBRFY 3.15 ▲ 0.32% INTER 5.70 ▲ 0.89% IBOV 176,641.10 ▲ 0.51% IPSA 11,024.10 ▲ 1.05% IPC MEX 66,529.27 ▲ 0.85% MERVAL 3,229,323 ▼ 0.18% COLCAP 2,298.73 ▼ 0.39% BVL PERÚ 56,428.20 — — USD/BRL 5.07 ▲ 0.03% USD/MXN 17.42 ▼ 0.03% USD/CLP 925.95 ▼ 0.07% USD/COP 3,247 ▲ 0.33% USD/PEN 3.41 ▲ 0.55% USD/ARS 1,470 ▼ 0.88% USD/UYU 40.23 ▲ 0.99% USD/PYG 6,039 ▲ 1.12% USD/BOB 10.35 ▲ 6.04% USD/DOP 58.20 ▼ 0.17% USD/CRC 448.93 ▲ 1.31% USD/GTQ 7.62 ▲ 2.07% USD/HNL 26.73 ▲ 1.38% USD/NIO 36.62 ▲ 0.31% USD/VES 722.19 ▼ 0.13% USD/PAB 1.00 — 0.00% USD/BZD 2.00 — 0.00% USD/JMD 157.59 ▲ 0.64% USD/TTD 6.75 ▲ 1.19% EUR/BRL 5.79 ▼ 1.09% BRENT 85.61 ▲ 1.04% WTI 80.08 ▲ 0.93% IRON ORE 161.91 — — COPPER 6.36 ▲ 0.52% GOLD 4,035 ▼ 0.65% SILVER 58.32 ▼ 0.78% SOY 1,197 ▼ 0.87% CORN 465.75 ▲ 7.38% WHEAT 666.25 ▲ 5.54% COFFEE 322.15 ▼ 4.46% SUGAR 14.76 ▼ 0.81% ORANGE JUICE 140.90 ▼ 1.16% COTTON 81.10 ▲ 1.88% COCOA 5,724 ▲ 1.13% BEEF 227.75 ▼ 2.97% CATTLE 349.63 ▼ 1.33% LITHIUM 71.58 ▼ 1.02% PETR4 40.66 — 0.00% VALE3 74.01 ▲ 1.59% ITUB4 43.63 ▲ 0.25% BBDC4 18.63 ▼ 0.75% ABEV3 15.81 ▼ 0.13% BBAS3 20.59 ▲ 1.73% B3SA3 15.33 ▲ 1.39% WEGE3 44.20 ▼ 0.43% PRIO3 57.57 ▲ 0.65% SUZB3 41.11 ▼ 0.92% RENT3 40.54 ▲ 0.85% AZZA3 18.85 ▼ 1.93% CSAN3 3.89 ▼ 0.26% RAIZ4 0.31 ▼ 6.06% PCAR3 2.45 ▼ 5.41% GMAT3 3.96 ▲ 0.51% PSSA3 54.29 ▲ 0.46% CVCB3 1.38 ▲ 10.40% POSI3 3.99 — 0.00% SLCE3 13.81 ▼ 0.43% NATU3 8.55 ▼ 0.58% BRKM5 6.83 ▼ 1.59% RANI3 8.01 ▲ 0.75% CSNA3 5.20 ▼ 0.76% CMIN3 5.10 ▼ 6.42% USIM5 8.23 ▼ 1.79% GGBR4 23.32 ▲ 2.19% ENEV3 27.17 ▲ 1.08% CPFE3 47.20 ▲ 0.77% CMIG4 11.20 ▲ 1.17% EQTL3 40.95 ▲ 1.84% LREN3 14.29 ▲ 0.99% VIVT3 35.52 ▲ 2.27% RAIL3 14.13 ▲ 0.14% KLABIN 17.32 ▼ 0.92% RAIA DROGASIL 18.60 ▲ 2.20% RDOR3 36.05 ▲ 1.38% HAPV3 11.19 ▲ 6.98% FLRY3 16.41 ▲ 1.61% SMTO3 16.12 ▼ 1.53% UGPA3 30.11 ▼ 2.65% VBBR3 33.30 ▲ 1.65% BBSE3 40.39 ▲ 0.27% BPAC11 57.95 ▲ 0.75% CURY3 33.59 ▲ 1.42% AERI3 2.07 ▼ 0.48% VIVARA 23.43 ▲ 1.38% COMPASS 25.20 ▲ 1.74% VAMOS 3.15 ▲ 4.30% SANB11 27.34 ▼ 0.11% ASAI3 8.66 ▼ 0.57% SBSP3 30.34 ▼ 0.10% WALMEX 49.32 ▼ 0.66% GMEXICO 199.61 ▲ 2.06% FEMSA 232.52 ▲ 3.18% CEMEX 22.24 ▲ 2.11% GFNORTE 186.00 ▲ 2.16% BIMBO 56.55 ▲ 1.22% TELEVISA 9.49 ▼ 1.25% AMX 22.83 ▲ 1.06% GAP 394.05 ▼ 3.46% ASUR 275.61 ▼ 1.09% OMA 235.49 ▲ 0.93% KOF 180.00 ▼ 0.92% GRUMA 280.31 ▼ 0.38% KIMBER 38.53 ▲ 0.81% SQM-B 67,900 ▲ 1.03% COPEC 6,210 ▲ 2.52% BSANTANDER 78.64 ▲ 0.56% FALABELLA 5,875 ▼ 0.51% ENELAM 85.75 ▲ 1.84% CENCOSUD 2,040 — 0.00% CMPC 1,103 ▲ 2.32% BANCO CHILE 189.50 ▲ 2.43% LATAM AIR 24.90 — 0.00% YPF 77,775 ▲ 0.78% GGAL 7,910 ▼ 2.10% PAMPA 5,230 ▲ 0.10% TXAR 665.00 ▲ 0.08% ALUAR 949.00 ▼ 1.61% TGS 9,710 ▲ 1.46% CEPU 2,327 ▲ 0.35% MIRGOR 16,750 ▼ 1.47% COME 45.75 ▲ 2.17% LOMA NEGRA 3,540 ▲ 1.22% BYMA 302.50 ▼ 1.87% TELECOM ARG 4,333 ▲ 1.94% ECOPETROL 16.16 ▲ 1.76% BANCOLOMBIA 82.10 ▲ 2.09% GRUPO AVAL 4.95 ▲ 0.81% CREDICORP 392.24 ▲ 0.78% SOUTHERN COPPER 182.38 ▲ 4.50% BUENAVENTURA 31.03 ▲ 4.06% MERCADOLIBRE 1,874 ▲ 0.35% NUBANK 13.99 ▲ 2.34% XP 16.87 ▲ 3.05% PAGSEGURO 9.28 — 0.00% STONE 11.30 ▲ 1.35% GLOBANT 30.92 ▼ 3.74% TECNOGLASS 44.19 ▲ 3.15% GAP AIRPORT 225.95 ▼ 2.93% ASUR 275.61 ▼ 1.09% OMA AIRPORT 107.64 ▲ 1.42% AMX ADR 26.18 ▲ 0.58% FEMSA ADR 133.17 ▲ 3.22% CEMEX ADR 12.80 ▲ 2.81% PETROBRAS ADR 17.92 ▲ 0.22% VALE ADR 14.59 ▲ 2.89% ITAU ADR 8.55 ▲ 0.94% SANTANDER BR 5.40 ▲ 0.84% AMBEV ADR 3.09 ▲ 0.98% CSN 1.04 ▲ 0.49% GERDAU 4.61 ▲ 2.67% LATAM ADR 53.51 ▲ 0.34% BTC 64,604 ▼ 0.54% ETH 1,877 ▼ 0.67% SOL 77.29 ▼ 0.61% XRP 1.11 ▼ 0.31% BNB 578.23 ▼ 0.61% ADA 0.16 ▼ 0.56% DOGE 0.07 ▼ 0.94% AVAX 6.65 ▼ 0.70% LINK 8.33 ▼ 0.15% DOT 0.85 ▼ 0.20% LTC 45.47 ▲ 0.08% BCH 234.24 ▼ 0.95% TRX 0.33 ▲ 0.67% XLM 0.18 ▼ 0.07% HBAR 0.07 ▼ 0.11% NEAR 2.05 ▲ 2.19% ATOM 1.56 ▲ 0.13% AAVE 98.03 ▼ 0.86% SELIC 14.25% EMBRAER 82.49 ▼ 0.63% EMBRAER ADR 64.91 ▲ 0.67% JBS 11.83 ▲ 0.25% JBS BDR 59.75 ▼ 1.42% MBRF3 16.09 ▲ 2.35% MBRFY 3.15 ▲ 0.32% INTER 5.70 ▲ 0.89%
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Wednesday, July 15, 2026

Opinion: Lula, Brazil’s Horatio Alger Hero?

By · March 12, 2016 · 2 min read

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Opinion, by Michael Royster

RIO DE JANEIRO, BRAZIL – The Curmudgeon owes the inspiration for this column to a 2009 film entitled “Lula, Son of Brasil”, a box office flop released during the 2010 Presidential election campaign when Lula was maneuvering to get Dilma elected.

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The film — panned by critics as one of the worst in decades and denounced as a propaganda piece — was (surprise!) nominated by Brazil’s Ministry of Culture for the Oscar as Best Foreign Film.

After all, it tells the heart-warming tale of a street urchin from Brazil’s backwards Northeast region, who makes it big after migrating to São Paulo by dint of hard work, determination and courage, despite losing a finger and being jailed by the military.

The U.S. had its own version of this “rags to riches” story in the pulp fiction novels of Horatio Alger Jr., wildly popular after the Civil War. Even today, lots of poor Americans still believe the myth that they can get ahead through true grit and sweat equity. The trouble is, adepts of the Horatio Alger myth didn’t read the books carefully enough.

In every Horatio Alger novel, the hero only gets ahead after he has performed some act of heroism; the person he saved from disaster inevitably has a rich relative who decides to become the hero’s benefactor, showering him with money.

Ragged Dick, Alger’s most famous character, expresses this quite clearly: “I’d like it if some rich man would adopt me, and give me plenty to eat and drink and wear, without my havin’ to look so sharp after it.

Lula seems to have reinvented these novels. In his own view (Hubris! Chutzpah!) Lula saved Brazil from the disaster of prior governments. There is abundant evidence that several rich benefactors did indeed adopt Lula, giving him “plenty to eat and drink” and much, much, more — think “triplex” — and he still doesn’t “look so sharp after”.

Unfortunately for Lula, most of his rich benefactors have now been exposed as criminals, and are in jail.

The Curmudgeon will emit more dismal columns opportunely.

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