Quipus Capital

Brazilian real estate developers: MSD multiples

$CURY3, $CYRE3, $DIRR3, $TEND3, $EZTC3, $MRVE3, $MDNE3, $LAVV3, $PLPL3

May 31

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Annex - Brazilian real estate developers: MSD multiples

This Annex to the Brazilian Real Estate Developers article provides the file containing the models used in the original article, and the data used to…

May 31

US Meatpacking ($TSN, $SFD, $PPC): Cheap enough?

[FREE TO READ] The largest US protein producers at a cyclical inflection

May 16

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Brazilian Meatpackers: Cyclical turn?

2Q26 update of Brazilian meatpackers

May 3

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Brazilian Meatpackers: Cyclical turn? Annex

Disclaimer: The opinions expressed in the Blog are for general informational purposes only and are not intended to provide specific advice or…

May 2

April 2026

Forest Industries II: North American Wood Products

A leveraged play on the US construction cycle undergoing its worst downcycle since the GFC

Apr 19

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Forest Industries II: North American Wood Products Annex

Disclaimer: The opinions expressed in the Blog are for general informational purposes only and are not intended to provide specific advice or…

Apr 18

1Q26 Portfolio Review

After every quarter, I provide a review of the performance and positions of my two personal accounts (IBKR and Argentina).

Apr 11

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March 2026

Forest Industries I: Basics

The Forest Industries are a long value chain, extending from natural and planted forests through processed wood materials vital for construction and…

Mar 29

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Brazil Leveraged Names Overview

Analyzing 10 plus companies at the edge of financial breakeven that will benefit from lower rates.

Mar 8

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Brazil Leveraged Names Overview Annex: Derivatives accounting and the upcoming IPCA swap revaluation

A double-click on specific aspects of derivatives and hedge accounting

Mar 8

February 2026

Suzano + Pulp and Paper Primer

The Brazilian hardwood pulp leader at a cyclical cross roads

Feb 15

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