Brazil-based Petrobras is a $232 billion market cap oil and gas exploration and production company. It's also the most powerful company in an increasingly powerful economy. And its growing stronger says Marcus due to its significant reserves which could grow rapidly as more oil is discovered in the waters off Brazil.
A significant unknown is the price that Petrobras will have to pay to the Brazilian government to acquire future reserves and the cost to develop those reserves. But with a 2011 earnings multiple of 11, Marcus says the risk is worth it.
"No matter how you look at it, we are getting one of the largest oil companies and reserves in the world at a very attractive price," he says.
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