Is the 2012 hit for DJ Fresh and Rita Ora.
Hot Right Now is the story of a Brazilian Billionaire and the stock which has given a return of 1000 per cent .
Bloomberg has the story. Read below :
Luiz Alves Paes de Barros is something of an enigma in Sao Paulo’s financial circles. At 69, he’s known around town as the “anonymous billionaire” for quietly amassing a fortune by wagering on stocks almost no one else seemed to want.
In Magazine Luiza SA, Barros may have made one of his best bets yet.
Starting in late 2015, Barros’s Alaska Investimentos Ltda. made the battered retailer one of its biggest holdings, a brazen move in a nation stuck in the middle of its worst recession in a century. It paid off.
Magazine Luiza has surged more than 1,000 percent since reaching a record low about a year ago, making it the top stock in one of the world’s top-performing markets.
That turned Alaska’s Black Master, which Barros co-manages with Henrique Bredda and Ney Miyamoto, into the No. 2 fund among 569 peers focused on Brazilian equities, according to data compiled by Bloomberg.
Barros’s latest success only adds to the intrigue surrounding one of Brazil’s most storied, but media-shy, individual investors.
"Perfecting patience is all I’ve done over the past 50 years," Barros says. "I love when things get bad. When it’s bad, I buy.
