Short-term play?

Venezuela is the world’s fifth-largest oil exporter, with most of its barrels heading primarily to the U.S. Bernal says Venezuela is attractive from a shortterm perspective solely as an oil play.

“They are a huge oil exporter, and as long as oil is up, it makes sense to be invested in Venezuela,” he says.

However, take away higher oil prices and the investment climate doesn’t look as attractive.

“The policies the president is enacting are detrimental to long-term economic growth,” Bernal says.