FREE EBOOK (Li Lu: the story of the Chinese Warren Buffett): https://lp.mmakers.com.br/mmk11-li-lu... Why is extreme pessimism creating one of the greatest opportunities to invest in the stock market? Amid crises and economic uncertainties, from Dilma's impeachment to the pandemic, investors' mood seems to have never been so pessimistic. Discussions about the stock market often boil down to debates about macroeconomics, fiscal deficits and high interest rates. But is this what stock investors should really be worried about? While fixed income offers attractive returns, many ignore that there are always opportunities in stocks, even when the outlook seems bleak. History shows us that when we cannot predict what is coming, these are usually the best times to invest. The market anticipates everything – when everyone is pessimistic, that is when opportunities arise. In episode 135 of Market Makers, we went to Rio de Janeiro to talk to Pedro Chermont (founding partner and CIO of Leblon Equities) to record an episode that was attended by an audience full of M3 Club members. We discussed how investing in companies with a long-term vision can bring exceptional returns and how patience, rationality and discipline are essential to navigate volatile markets. Find out how finding “Good Business, Good People, Good Price” can be the key to success and why crises can actually be the best time to be in stocks. Do you think the current scenario is an opportunity or a risk for investing in the stock market? Leave your opinion in the comments! If you liked the content, leave a like and subscribe to the channel for more discussions on the economy, financial markets and investment strategies. 00:00:00 - Opening 00:01:37 - Introduction 00:02:49 - History of crises and opportunities 00:07:39 - Analysis of the current market situation 00:11:36 - Importance of patience in investment 00:15:12 - Example of long-term investment: Lojas Renner 00:19:36 - What is a good company? 00:29:41 - The importance of price in investment 00:35:01 - Experience with Priner and the importance of alignment 00:42:08 - Active participation in boards and learning 00:45:17 - Misalignment of interests and consequences 00:45:39 - Analysis of the Mills case and the importance of aligning interests 00:55:31 - Experience with PetroRio and the importance of aligning interests 01:01:10 - Analysis of Chinese competition 01:02:55 - Example of business strategy: Lojas Renner 01:08:07 - Is there a bubble in the credit market? 01:13:18 - Evolution and challenges of the Brazilian capital market 01:17:34 - Analysis of the IPO market in Brazil and worldwide 01:27:46 - Discussion on Mills' entry into the yellow line 01:40:28 - Book recommendations 01:43:29 - Music recommendations 01:44:21 - Suggested guests for future interviews 01:44:25 - Message to investors and analysis of the current scenario 01:51:19 - Conclusion and acknowledgments - - - - - - - - CRISES AND UNCERTAINTIES: how to take advantage of market pessimism to profit Market Makers #135 Presented by: Thiago Salomão (@_salomoney), Josué Guedes (@josueguedes_) and Matheus Soares (@maatssoares) Guest: Pedro Chermont, founding partner and CIO of Leblon Equities Edited by: Bianca Barsotti and Lucas Zanardo