Book by CVM founder discusses the past, present and future of the capital market

Roberto Teixeira da Costa was the first President of the Brazilian Securities and Exchange Commission (CVM), back in 1977, and also a pioneer advocate for the interests of minority investors and the use of the market by corporations. The history of Brazil’s capital market is directly linked to the professional trajectory of this personality, detailed in the book “Valeu a pena! Mercado de capitais: passado, presente e futuro” [Worth it! Capital market: past, present and future], published by FGV Press in partnership with FGV’s Rio de Janeiro Law School (FGV Direito Rio). The book will be launched this Tuesday, August 21, at 7 p.m., at Livraria Travessa at Shopping Leblon (Avenida Afrânio de Melo Franco, 290 – store 205 A – Leblon, Rio de Janeiro/RJ).

This autobiography, which intertwines with the history of the country’s economy, has records that are crucial to understand the evolution of the domestic market, in addition to being recommended by some pretty big names. According to former President Fernando Henrique Cardoso, who wrote the foreword, “beyond simply sharing the experience of a person who stands out for their restlessness and involvement in Brazilian public life, the book tells the story of our capital market and, in doing so, explains a lot about our economic and financial evolution”.

Businessman Jorge Paulo Lemann, who had Roberto Teixeira da Costa as his first boss, signs the book flap, pointing out that “in a country of little institutionalization, Roberto was always ahead of his time, striving to lay down a framework for long-term development”.

The book summarizes writings that cover a long and productive life of admirable experiences and the author’s reflections about them, through the eyes of someone who has “lived memories”. But in the final chapters, Teixeira da Costa does not shy away from looking ahead and wondering about the future of the market that he knows so well: he describes the bottlenecks “hindering a stronger market” and the necessary structural reforms.

Go to the website for more information on the book.