15th VIB Congress

September 20, 2022 ● Schedule

Speakers

Alexandre Abrao Martins
Modulo Capital (Rio de Janeiro)
Panel: “Investment Picks”
Partner and Co-Portfolio Manager with Módulo Capital. Before joining Módulo, he was one of the founding partners of Edge Investmentos and the portfolio manager of Edge Value FIA. Formerly, he worked as a buyside analyst at Orbe Investimentos and at Jardim Botânico Partners. Alexandre Abrao Martins graduated in Engineering from PUC-RJ and holds a specialization degree in Business from Harvard Business School.
Breno Guerbatin
P8 Investimentos (Rio de Janeiro)
Lecture: “Banks — The Return of Those Who Never Left”
Founding partner and Equities CIO with P8 Investimentos since 2021. Formerly, he was a founding partner and portfolio manager at Studio Investimentos, from 2009 to 2021, Senior Equity Research Analyst at ARX Investimentos, from 2008 to 2009, and partner and Head of Research at Brazil Energy S.A., from 2005 to 2008. He started his career at Opportunity Asset Management where, from 2001 to 2005, he began as a trainee and became a macro portfolio manager. Breno Guerbatin graduated in Production Engineering from UFRJ, has a postgraduate Degree in Corporate Law from FGV-RJ, and holds ANBIMA’s CGA certification.
Christian Bojlesen
Bojlesen Capital (Sao Paulo)
Panel: “Investment Picks” (Moderator)
Analyst and portfolio manager of the Bojlesen FIA — whose strategy, since 2008 (initially as the Clube de Investimentos Bojlesen), focuses on fundamental analysis, value investing and small caps — which he founded in 2008. Christian Bojlesen graduated in Business Administration with emphasis in Finance from Colorado State University and holds the CGA (ANBIMA) and CNPI (Apimec) certifications.
Danilo Santiago
RIM (New York)
Lecture: “U.S. Real-Estate Fundamentals Post COVID-19”
Founder of Rational Investment Methodology (RIM), which focuses on a quasi-static group of approximately 65 publicly traded, liquid U.S. stocks. These companies, defined as RIM’s Circle of Competence (CofC), have been followed for more than 15 years. RIM employs extensive industry research and analysis, building highly detailed proprietary discounted-dividend models, which are used to determine the “fair values” of companies based on different scenarios. Lastly, RIM constructs “rules-based” model portfolios (long-short, long-only, or long-aggressive) with a company-specific margin of safety relative to “fair value,” using its proprietary Odysseus portfolio construction tool. Selected model portfolios are replicated into clients’ accounts, using Interactive Brokers’ platform, adjusting the number of shares in each client’s account in a pari-passu manner. Danilo Santiago graduated in Electrical Engineering from the University of São Paulo and holds an MBA from Columbia University.
Fabio Alperowitch
FAMA Investimentos (Sao Paulo)
Lecture: “ESG in Brazil: Myths, Reality, and Trends”
Fabio Alperowitch, CFA is a founding partner with FAMA Investimentos, an independent investment management firm founded in 1993 that focuses on high-quality Brazilian companies that adhere to good ESG practices. The firm currently manages about R$ 1.7 billion — predominantly from non-Brazilian investors, especially pension funds and endowments. The fund has a compounded return of 18% per year, compared with a return of 12% per year of the Ibovespa Index during the same period. FAMA Investimentos is certified as a “B Corp” and is a founder with Net Zero Asset Managers. Fabio Alperowitch graduated in Business Administration from Fundação Getulio Vargas, is a Member of the Board of Directors of WWF Brasil, of Capitalismo Consciente Brasil, of Pacto pela Equidade Racial, and of LIFE Institute, and has founded three other ONGs. He holds the CFA — Chartered Financial Analyst — designation.
Heloisa Cruz
Stoxos (Sao Paulo)
Panel: “Investment Picks”
Portfolio manager and analyst with Stoxos FIA, which originated as a Clube de Investimentos she founded in 2014. Formerly, she was co-portfolio manager at Nest Investimentos (2014), buy-side analyst at Guepardo Investimentos (from 2012 to 2013), Itaú Unibanco (from 2011 to 2012), BRL Capital (from 2010 to 2011), and J.P. Morgan (from 2008 to 2010), and sell-side analyst at Banco Fator (from 2007 to 2008). Heloísa Cruz started her career at Monitor Group, a strategy consulting firm managed, among others, by Michael Porter and Tom Copeland. She graduated in Chemical Engineering from USP’s Escola Politécnica, holds the CFA (Chartered Financial Analyst) designation and, through Stoxos Desenvolvimento, teaches Equity Investing, Fundamental Analysis, and Valuation.
Luiz Henrique Guerra
Logos Capital (Sao Paulo)
Lecture: “Macro Brasil and Equities”
CIO with Logos Capital. Luiz Guerra has about 18 years of experience with financial markets and was a founding-partner with Indie Capital before creating Logos Capital, in 2018. He worked for six years at Quest Investimentos as the partner responsible for partially managing its equity funds, with total assets of approximately R$ 1.2 billion. Formerly, he worked at GP Asset as an analyst, at Merrill Lynch as a sell-side analyst, and at Demarest & Almeida Advogados. Luiz Guerra graduated in Business Administration from USP, in Law from PUC, and holds a Masters in Economics from USP.
Luiz Paulo Aranha
Moat Capital (Sao Paulo)
Panel: “Investment Picks”
Managing partner and portfolio manager with Moat Capital. Formerly, he managed the NP Fundamento fund at LLA (where he worked from 2009 to 2013) and the Capitânia Equities fund at Capitânia (where he worked from 2006 to 2009). An Honorary Member of the IFL — Insituto de Formação de Líderes — Luiz Paulo Aranha graduated in Naval Engineering from USP’s Escola Politécnica and holds the CFA — Chartered Financial Analyst — designation.
Lukasz Tomicki
LRT Capital Management (Austin, Texas)
Lecture: “Quality investing in the age of ‘meme stocks’ ”
Founder and portfolio manager with LRT Capital Management, an independent investment manager based in Austin, Texas, focusing on long-term, value-oriented investing in companies with strong and growing competitive advantages (“moats”). Prior to founding LRT in 2012, Mr. Tomicki founded and sold a technology company that developed software for tracking state campaign finance and legislation. He also worked in the political consulting industry with lobbyists, campaign managers and outside groups on structural reforms including improving public education, tax reform and economic growth policies. Mr. Tomicki holds a degree in Finance from Seton Hall University graduating with magna cum laude distinction, and an MBA from Washington University in St. Louis where he was class valedictorian. He is a CFA charterholder and has over a decade of investment experience.
Michael Howell
CrossBorder Capital (London)
Opening Lecture: “Global Liquidity”
Michael Howell is CEO of CrossBorder Capital, a London-based FCA registered, independent research and investment company that he founded in 1996. The firm provides asset allocation and capital markets advice to institutional investors, and manages US$ 1 billion of assets. Michael is involved with educational charities and currently advises a major educational foundation on its investment strategy. He has also advised the World Bank on capital flows, co-authoring their publication Opportunities in Emerging Markets (World Bank, 1995), served as board director of a listed Japanese investment trust and recently authored the book Capital Wars (Macmillan, 2020). Previously he was Head of Research for Baring Securities and board member, where he focussed on Emerging Markets, and Research Director of Salomon Brothers. Before entering finance, Michael worked as Group Economist for Blue Circle Industries. He holds a Phd. in Financial Economics from London University, specialising in Fixed Income, and is a SEC-qualified US Supervisory Analyst.
Rafael Fritsch
Root Capital (Sao Paulo)
Lecture: “Brazilian Credit Market — Update and Opportunities”
Chief Investment Officer with Root Capital, Rafael Fritsch has more than 23 years of experience with high-yield and distressed investing. Before Root Capital, he was CIO of the credit platforms of Canvas Capital and JGP, having previously worked as senior portfolio manager at Arrowgrass Capital Partners, Deutsche Bank and Bank of America, in London. He started his career at JP Morgan, in New York. Rafael Fritsch graduated in Economics from PUC-Rio and holds an MBA, with honors, from London Business School.
Raphael Maia
Organon Capital (Rio de Janeiro)
Panel: “Investment Picks”
Founding partner and Director of Investments with Organon Capital. Formerly, Raphael Maia became an Associate Partner with BTG Pactual Asset Management, where he worked from 2011 to 2020. He started his career as equity analyst at Fator Administração de Recursos and, following that, worked as private and public equities analyst at Tarpon Investimentos. He graduated in Business Administration from Fundação Getulio Vargas (FGV-EAESP) and is licensed as portfolio manager by CVM (ICVM 558).
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