Una década en ascenso.
Los brindis con champaña estaban a la orden del día en las bolsas de valores latinoamericanas a finales de 2009, año que cerró una década de espectacular rendimiento bursátil. El 31 de diciembre, tanto el IGBC de Colombia como el IGBVL de Perú cerraron con más de un 800 por ciento de crecimiento en relación a 10 años atrás. El índice Bovespa de Brasil cerró con un 312 por ciento más y el IPSA de Chile se elevó un 232 por ciento durante el mismo periodo.
De hecho, muchos inversionistas ganaron buen dinero a partir de operaciones con acciones realizadas en las bolsas de Estados Unidos. Pero los rendimientos de las bolsas latinoamericanas fueron incluso más notables, dado que la de EE. UU. concluyó la década en territorio negativo (su peor rendimiento desde la Gran Depresión de los años treinta).
A pesar de que al principio de la década los índices de las bolsas de EE. UU. y Latinoamérica marcharon al unísono con un rendimiento abismal, para mediados de la década, las bolsas de valores de la región habían dejado atrás a Estados Unidos y culminaban este periodo de 10 años con resultados estelares.
De acuerdo a Citi Equity Research, los mercados de valores de Lafinoamérica tocaron fondo en octubre de 2002 y luego se elevaron un 832 por ciento hasta su pico máximo, en mayo de 2008. En comparación, los mercados emergentes en conjunto se elevaron un 390 por ciento durante el mismo periodo, de acuerdo a Citi Research. Cerraron el 2009 con un crecimiento de 267 por ciento y 102 por ciento, respectivamente.
Geoffrey Dennis, al frente de la división Latin America Equity Research, de Citi, atribuye ese fuerte rendimiento de los mercados emergentes a la explosión en los precios de los commodities, impulsados por la demanda proveniente de China y la India, y...
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