Carlos Eduardo Sequeira BTG Pactual First-place appearances: 7
Total appearances: 9
Team debut: 2005 For a third straight year — and for the seventh time since 2007 — Carlos Eduardo Sequeira seizes the top position on this roster; he also wins a runner-up spot in Equity Strategy. The 42-year-old BTG Pactual analyst reports on 13 stocks from his base in Rio de Janeiro, and he is circumspect on Brazil’s technology, media and telecommunications names. “Revenue growth has been decelerating, the competitive environment is tough, and increasing the price of services has been challenging,” he explains. “In addition, investments are rising as new fiber networks are built to support the increasing demand for data services and more-advanced TV offers. Last but not least, the regulatory environment is not getting any milder. In fact, the regulator has been slashing mobile termination rates, while pushing for the sale of 700 megahertz licenses at, what most believe, will be high prices.” Sequeira does, however, see consolidation as presenting a potential bright spot that “could create conditions for companies to adjust their tariffs and optimize their investments.” He favors investments in software, specifically two São Paulo–based operators: Linx, which provides cloud and retail services and is his top pick; and Totvs, an enterprise planning and supply-chain management software developer. His preferred straight technology name is Valid Soluções e Serviços de Segurança em Meios de Pagamento e Identificação, a Rio de Janeiro–based provider of security printing services to financial institutions and government agencies.