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No. 3 - Emerging Markets: Growing Up

Emerging markets may finally be ready to emerge. S&P upgraded Brazil's debt this week to just one notch below investment grade, causing outside investors to flood the country.

The iShares MSCI Brazil Index (EWZ) is up 23% this year. Should you follow others into these emerging countries?



Tim Strazzini says he’s bullish on Brazil because they have strong natural resources to export, highly leverage commodity prices, and right now they’re about to upgrade their GDP estimates.

Eric Bolling says in Brazil, he likes Companhia Vale do Rio Doce (RIO) and Companhia de Saneamento Basico (SBS). He adds Brazil’s currency the “real” is making all time highs and the US has a good relationship with Brazil – two compelling reasons to feel confident in investing there.

Got something to say? Send us an e-mail at fastmoney-web@cnbc.com and your comment might be posted on the Rapid Recap! Prefer to keep it between us? You can still send questions and comments to fastmoney@cnbc.com.

Trader disclosure: On May 17, 2007, the following stocks and commodities mentioned or intended to be mentioned on CNBC’s Fast Money were owned by the Fast Money traders; Macke Owns (JWN); Strazzini Owns (GOOG), (JBLU), (IBM), (EDS), (WMT), (YHOO); Strazzini Is Short (GOOG) Bolling Owns Gold, Silver, Coffee, Sugar; Bolling Is Short S&P Futures; Bolling Is Short S&P Options

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