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We have decided to sell these shares to diversify our portfolio. Banco Bradesco although making a profit currently, lost us a lot of money when it was down. We have decided to pull our money out of Brazil because of the current political climate.
Complex tax systems in Brazil make it very difficult to run a business. Despite this, Brazil has seen significant growth over the past 15 years. However, President Bolsonaro's latest tax reform will make it much easier for businesses to run. Brazil's proximity to the United States could also present a great opportunity for increased trade during the current trade war with China. Banco Bradesco has been down almost 20% over the past 6 months, but with these new tax reforms and the state of global trade, there is a significant growth opportunity present for Brazilian banking and financial service companies.