Examines the fundamentals of our investments in the long steel sector.

Discusses the dynamics of iron ore global market and our investment thesis in CVRD/Caemi, in the light of the growth of the Chinese steel industry.

Analyzes the peculiarities of the transition model of the Chinese economy, pointing its main challenges ahead.

Presents the main bias of the individuals judgment process, illustrating with examples extracted from capital markets and corporate environment.

Considers the psychological influences and motivations of the financial decisions of the individuals.

Describes and updates the fundamentals of our investment in Ambev.

Analyses the reasons for the excesses of the stock option plans in US corporations, suggesting the use of restricted shares as a market pay method. Describes and updates the fundamentals of our investment case in Caemi.

Presents the main concepts of stock option plans, analysing this pay method in the light of the Brazilian capital market peculiarities. Also comments the success and the importance of the IPO of Natura.

Examines the remuneration systems of the companies, presenting a number of pay methods. Also comments the main fundamentals of our investment case in Ambev

Ludic license for celebration: By the time of the tenth anniversary of Dynamo Cougar, we submit Dynamo to its own criteria of investment analysis.