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LIVE TODAY · 12:00 PM ET · 1 CFP CE CREDIT
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Most international allocations stop at MSCI EAFE. Hervé Van Caloen, President of Mercator Investment Management and a cross-border allocator for more than forty years, argues that is the mistake of the decade.
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His case is that Venezuela in the post-Maduro window is the most asymmetric emerging-markets setup he has seen in his career. Whether or not you end up agreeing, the session is a useful stress test of how you currently think about frontier and post-crisis exposure, and it carries CE credit.
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Today, Wednesday September 2 · 12:00 PM ET
60 minutes · Live on Zoom · Live Q and A
Hervé Van Caloen, President, Mercator Investment Management
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This session was originally scheduled for August 27 and has since moved to today. If you registered earlier, your registration and join link carry over and you do not need to do anything.
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What the session covers
| • | The political reset as a re-rating catalyst Why Hervé treats this as a multi-decade repricing rather than a headline trade, and what would have to be true for that view to hold. | | • | The Chevron licensing precedent What OFAC License 41 signals about the direction of capital flow, and why licensing mechanics matter more than the political narrative. | | • | The Argentina comparison, including where it breaks The Milei re-opening is the closest live analogue. The session covers where the parallel holds and, more usefully, where it does not. | | • | The 1990s Cuba license analog and pacing What an earlier sanctions-easing cycle suggests about how slowly or quickly this kind of window actually opens. | | • | Three sector clusters ahead of the institutional bid Energy, financials and consumer staples, and the reasoning for that ordering. | | • | The risk framework, which is the part most sessions skip How to size an allocation so that a re-freeze, a revocation of the Chevron carve-out, or spread compression does not damage the wider portfolio. |
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Securities discussed during the session include Chevron (CVX), Grupo Aeroportuario del Sureste (ASR), MercadoLibre (MELI), Ecopetrol (EC), and Grupo Financiero Galicia (GGAL). They are named for
illustration of the thesis being presented and are not recommendations.
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CE credit
CFP CE credit is approved for live attendance. The 30-day on-demand recording is also eligible for CE credit, so registering is worthwhile even if you cannot make the live hour.
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Who it is for
Financial advisors, RIAs, family-office allocators and HNW investment professionals looking past a US-centric portfolio.
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This is a sponsored educational session presented with Mercator Investment Management.
It is educational in nature and is not a product pitch, an offer to sell, or a
solicitation of an offer to buy any security. Views expressed are those of the
presenter and not those of Lead-Lag Publishing, LLC. Nothing in this message is
investment advice, and it does not account for the objectives or circumstances of any
individual investor. International and emerging-markets investing carries additional
risk, including political, currency, liquidity and sanctions risk. You are receiving this because you subscribe to The Lead-Lag Report.
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