I’m taking a closer look this week at the Brazilian wireless stocks and preparing a special report on Latin American internet and telecommunications. With 207.5 million mobile subscribers it's easy to assume that the Brazilian wireless market is close to the point of saturation. Well, you might want to take a second opinion from the operators within the industry.

Brazil’s wireless telecommunications market is shaping up to be a slugfest involving an imbroglio of domestic and international telecom firms, none of whom seem keen to cede an inch in the world’s fifth most populous country.

So, why have the foreign players taken such a liking to the Brazilian wireless market? More on that in this week's issue.

This edition also includes a rebalancing of the three LSI portfolios and the LCM Latin Stock Beat Index. The best performer is the LSI Dividend portfolio up 106% since inception (10/6/08-3/30/11 per foliofn calculations). This compares very favorably against the 42% for the LCM Latin Stock Beat Index and triples the S&P 500 return of 33% during the same period.

Despite this awesome performance, there are still some stocks trading at attractive valuations. This is the golden era for investing in Latin America and Emerging Markets!

That's my take on it. Happy trading!

Rudy

This was another great week with the leading stocks being:

• Brasil Telecom S.A. (NYSE:BTM) +13.5%
• MercadoLibre Inc. (NasdaqNM:MELI) +12.0%
• Braskem (NYSE:BAK) +9.3%
• Companhia Brasileira de Distribuicao (NYSE:CBD) +7.5%
• Companhia de Saneamento Basico do Estado de São Paulo (NYSE:SBS) +7.4%