Sell Brazil: Market Is Pricey After Huge Run, Say Analysts

Sell Brazil, was the talk of many institutional analysts Monday morning. As news of an impeachment vote of Brazilian President Dilma Rousseff was being made public, screaming and chanting was heard in the Brazilian lower house of Congress and initially, on the Brazilian stock market. But is the market overacting to what it thinks will usher in an economically friendly government? Sell Brazil: When blood was on the street, savvy investors bought Brazil thinking what’s bad for the ruling populist government is good for stocks On January 21, with the iShares MSCI Brazilian index trading near 17.33, the market environment looked…