Joaquín Ley & team Santander
The buy side says: “Joaquín is far ahead of the competition.”
The Santander team headed by Mexico City–based Joaquín Ley, 38, rockets from runner-up to first place — its sixth appearance on top in the past nine years. Ley “has an intuitive sense of where the market is headed — obviously a plus when it comes to stock picking,” cheers one satisfied client. The analysts pounded the table in April 2010 on Cia. Hering, a stock they had been recommending since way back in September 2007, on the Blumenau, Brazil–based apparel retailer’s strong same-store sales growth, among other considerations. By the end of July, the stock had rung up gains of 189 percent, from 11.50 reais to R33.24, since the reiteration — outpacing the sector by a remarkable 168.2 percentage points. In October the pair upgraded El Puerto de Liverpool from underperform all the way to buy, at 66.66 Mexican pesos, on faster-than-expected expansion and improving earnings results. The Mexico City–based department store chain — that nation’s largest — reported in March that year-over-year revenues grew by 11.5 percent in 2010, to N$52.4 billion ($4.4 billion), and net income soared 36.8 percent, to N$5.2 billion. By the end of July, the stock had shot up 42.3 percent, to N$94.86; during the same period the sector advanced just 6.8 percent.
