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American real estate technology company
verseas holidays. This would weigh on the travel operator part of the sector. If the bulk of sterling move is over the boost for dollar earnings like Compass will also likely fade. ¢ Peak returns: unlike Retail, T&L margins (98%ile since 2004) and RoEs (85%ile) are close to all-time highs. We think return
Page: HOUSE_OVERSIGHT_014491 →% undervalued, BRL 5% overvalued We estimate the Mexican peso is about 10% undervalued while the Brazilian real is about 5% overvalued, based on our Compass valuation model. The model provides estimates of long-run equilibrium trade-weighted exchange rates consistent with the convergence of current accoun
Page: HOUSE_OVERSIGHT_014756 →Merrill Lynch Mexico
OrganizationPierce, Fenner & Smith Incorporated
Organizationthe Comisidn Nacional Bancaria y de Valores
OrganizationMerrill Lynch Argentina SA
Organization
Comisién Nacional de Valores
OrganizationUruguayan football club based in Montevideo, Uruguay

Merrill Lynch Global Wealth Management
OrganizationInvestment management and financial planning service

the Financial Services Agency
OrganizationMerrill Lynch International Incorporated
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Merrill Lynch
OrganizationAmerican investing and wealth management division of Bank of America
the Securities and Futures Bureau
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Marine Le Pen
PersonFrench politician (born 1968)
DSP Merrill Lynch Limited
Organizationthe Securities and Exchange Board of India
OrganizationOtoritas Jasa Keuangan
Organizationthe Central Bank of the Russian Federation
Organizationthe Dubai Financial Services Authority
OrganizationMerrill Lynch Capital Markets Espana, S.AS.V.
OrganizationComisién Nacional del Mercado De Valores
OrganizationThe Financial Service Board
OrganizationMerrill Lynch International
Organization