Financial companies in the region have been particularly challenged. Central banks across the continent are raising interest rates to combat inflation, even as growth remains relatively slow. Portfolio holding Banco Bradesco (NYSE: BBD), Brazil’s third-largest bank, has been particularly hard hit by interest rate increases and slow economic growth.

However, we make our money as contrarians, buying when others are selling to get great prices on attractive growth companies. Not only does Banco Bradesco continue to fit that bill, but so does the newest addition to our Long-Term Portfolio, Credicorp (NYSE: BAP). A play on Peru’s strong economic health and steady growth, Credicorp rates a buy up to 130.

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Growing political noise in Indonesia and sluggish growth in China are denting Indonesian exports, which account for 32 percent of GDP. Sell iShares MSCI Indonesia Investable Market Index Fund (NYSE: EIDO).