The Rising Influence of Rising Affluence

[oldberkeley]

Re PBR: I've had it in my long-term portfolio for over ten years and needless to say it has done very, very well for me.

I'm embarrassed to admit it, but due to my inherent sloth and an almost superstitious reluctance to mess with a good thing, I rarely make any changes in that portfolio.

I'm not concerned, as you are, that one day Dilma is going to burst into the boardroom—wearing fatigues and smoking a cigar—to announce complete nationalization.

However, perhaps it is time for a change. I'm going to spend some time in the next month looking at some alternatives, especially BBL.