Pampa Energia SA (PAM)

One of the Argentinian utilities. She likes Argentina which is going through a transformation. Their new president is very pro-business and has replaced his government with a lot of ex-executives from the business sector. They are making Argentina business friendly. The 2 businesses that are benefiting are financials and utilities. For the 1^st time in years, there is a clear set of rules on how they would regulate the utilities. This has had a big run, and is expensive for Argentina, so tread with caution.

She likes Argentina. A new president came into power in December 2015, and is implementing a lot of business-friendly reforms. This one is a very well-run utility. It has had a big run, being up almost 80% year to date. A lot of the move is because it is one of 4-5 ADRs that are expected to be added to the index. She is a little cautious, because it has run ahead of its fundamentals. Wait for it to settle down.