Opinion on  iMSCI Brazil Index Fund (EWZ)     Sector: Financial  >  Industry: Misc. Financial Services
Brazil as a play on China

China is increasingly having to go as far ashore as Latin America in its quest for raw materials.  Brazil is an iron ore powerhouse.  RIO, which makes up nearly 10% of the holdings of this ETF, is one of the world's largest diversified metals and mining companies.  The ETF also has a large stake  in PBR, Brazil's leading energy company.

I would also like to add that the companies that comprise this ETF are selling at an average P/E of 11.55 and  P/CF of 6.9. 

   PBR  made a huge find last week.  It's unclear just how big it is, but they will have 60% ownership.  PBR makes up 15% of this ETF. 

I guess Harry Domash was the last one to get the memo that a resource rich country like Brazil in a booming region might have been a good investment.