The Big Visa Brazil IPO
Yes, it's going to be big. I love this space (Brazilian consumer credit), but boy is it expensive to play. Redecard -- a dream stock that's been on my watch list since its 2007 IPO -- continues to trade for 10x sales and 15x EBITDA. Pricey.
But put both of these on your watch list. The market will inevitably sour on Brazil at some point.