Stock price when the opinion was issued
Brazilian steelmaker. There is some question about whether they have been evading taxes and a few other things. The company has taken a tremendous beating because they are in the steel industry. This is certainly a contrarian play, and he could see how it could have a tremendous recovery, as normally they make money. People don’t want to touch just about anything in Brazil now, which makes it more interesting to him. A big caveat is the debt level which has gone way up, which he doesn’t like to see.