The end of Brazil’s bull market

The recent appearance of a golden bull outside the São Paulo's B3 stock exchange was something of a red rag to the city’s populace.

Markets are all about timing. And in replicating Wall Street’s famous bull statue, Pablo Spyer – partner at XP and president of the financial education company Vai Tourinho – got his all wrong.

Following installation of a copycat golden bull statue outside the stock exchange on November 15, the B3 fell by over 2% the next day. But the timing was particularly bad because of the economic environment in the country. GDP fell in the third quarter (by -0.1%),

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