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As I have argued in all four of my posts, so far, about 2022, it was year when we saw a return to normalcy on many fronts, as treasuryrates reverted back to pre-2008 levels, and risk capital discovered that risk has a downside.
I am no expert on exchange rates, but learning to deal with different currencies in valuation is a prerequisite to valuing companies. Thus, if the US treasury bond rate (4.5%) is the riskfree rate in US dollars, and the expected inflation rates in US dollars and Brazilian reals are 2.5%
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