Episode Summary
In this episode of The Expat Files, Johnny Mueller dives into the world of expat entrepreneurship in Latin America, focusing on the growing interest in coconut oil as a viable business opportunity. He discusses the challenges expats face, including cultural and legal differences, and shares success stories of those who have turned niche markets into profitable ventures. Whether you're an expat looking to start a business or simply curious about life in Latin America, this episode offers valuable insights and practical advice.
Johnny begins by highlighting the common interest of expats in starting businesses in Latin America, particularly those with little or no Spanish and those who have turned unanticipated opportunities into success. He suggests the coconut oil business as a potential opportunity for expats, noting the high demand for the product both locally and for export. He explains the irony of the situation, where coconuts are abundant but coconut oil is not, and discusses the historical use of coconut oil in Latin American kitchens before the rise of margarine and hydrogenated oils.
He also touches on the confusion surrounding terms like 'mantakea' and 'manteca' and the health implications of the oils commonly used in the region. Johnny notes that while coconuts are common in Latin America, coconut oil is not easily found locally and is often imported from the Philippines or ordered online. He mentions a listener's experience in Nicaragua, where they found coconut oil at a low cost and learned about the local production process.
The discussion then shifts to an expat named Jim who has successfully started a coconut oil business in Nicaragua. Johnny highlights the process of making coconut oil, emphasizing the importance of removing water for longer shelf life. He references historical examples like the pharaohs' tombs containing edible honey to illustrate the longevity of properly prepared coconut oil. Johnny also talks about the challenges Jim faces, such as transportation losses and customs issues, and suggests potential improvements like setting up a bottling facility in Bluefields.
Finally, Johnny discusses the challenges expats face in Latin America, particularly the cultural and business differences between expats and locals. He acknowledges that locals manage to succeed despite their 'half-assed' approach, which he attributes to their survival instincts and the 'gringo advantage'—the tendency of expats to approach things in a more first-world manner. However, he warns that many expats fail due to poor legal advice, partnerships with unreliable Latin partners, and a lack of confidence in navigating the local system. He emphasizes the importance of legal guidance, careful partner selection, and the idea that expats should not rely on Latin partners for success, as they often end up being the ones learning from the expats rather than the other way around.
Topics
Expats and business opportunities in Latin America, Coconut oil as a viable business idea, Cultural and linguistic nuances in Latin America, Historical and current use of oils in Latin American cuisine, Coconut oil availability in Latin America, Health implications of palm kernel oil, Potential business opportunity for expats, Local production of coconut oil in Nicaragua, Cost comparison between coconut oil and other oils, Coconut oil production, Expats and entrepreneurship, Business challenges in Nicaragua
Chapters
00:00:00 Opening 00:00:32 The Common Interest of Expats in Business Ideas 00:01:40 The Coconut Oil Business as a Potential Opportunity 00:02:02 The Abundance of Coconuts and the Lack of Coconut Oil Production 00:05:19 Historical Use of Coconut Oil in Latin American Kitchens 00:05:44 Coconut Oil Availability in Latin America 00:06:44 Potential Business Opportunity for Expats 00:09:11 Cost Comparison Between Coconut Oil and Other Oils 00:11:47 The Importance of Removing Water from Coconut Oil 00:12:13 Historical Evidence of Coconut Oil's Longevity 00:13:29 Jim's Coconut Oil Business in Nicaragua 00:14:46 Comparing Prices and Quality of Coconut Oil 00:16:09 Suggestions for Improving Jim's Business 00:17:58 The Half-Assed Approach of Locals and the Gringo Advantage 00:18:41 Common Reasons for Expats' Business Failures 00:21:28 The Rare Success of Latin Partnerships and the Importance of Legal Guidance 00:23:27 Consider hooking up with another expat or gringo though 00:23:30 I can't say in the long run those kind of partnerships work out so great either 00:24:04 They've got beach houses and airplanes and Mercedes roadsters you name it 00:24:44 Let me tell you I'm happy for this guy 00:25:13 I mean when you've got coconuts practically falling on your head down here 00:25:36 The field is wide open and there's a huge potential for profit now
Transcript
Automatically transcribed from the original recording; names and wording may contain errors.
[00:00] South of the border down Mexico way That's where I fell in love when the stars above came up to play and now as I wonder Hello there all you expat wannabes I'm Johnny Mueller and you're listening to the expat files living in Latin America the show that tells you just what it's like to live Work play and or retire down here in Latin America It's a mix of the good the bad the ugly and the great and it's all right here. So let's get started Now everyone who listens to this program already knows that the question of doing business down here in Latin America Seems to be on the top of the list for every expat wannabe and gonna be the fact is I can't tell you how many emails
[00:45] I get from people up north wanting to know about businesses and business ideas that I think would surely fly down here and along with Questions about that I get people asking for me to go into a bit more detail about expats who did take a very low cost very low overhead business idea ran with it and made a nice comfortable success for themselves and Most of the time you guys and gals up there want to know about expats who came down knowing little or no Spanish who made A success of themselves too and it seems you guys up north Especially want to hear about gringles and expats who got involved in a business that they didn't know one thing about before they came Down here sometimes with businesses. They had no idea existed at all yet They saw a need for it or a niche or found a way to really improve a half-ass existing model run by lance with no feel for
[01:32] The details of course, you know, give it the first world gringo spin the golden gringo touch and I've seen that happen many times It works like a charm Now if you remember a few shows ago I mentioned that I seriously thought that a surefire gringo expat business idea would be to get in the coconut oil business And here I won't go into why I think it'd be a great idea Just go back to that show and check it out But I'll mention I know there's a huge market for the stuff down here throughout Latin America and for export to the first world too yet Like I mentioned in that previous show even though coconuts are everywhere except in the high Altiplano and in the mountains I Actually know a gringo who broke his ankle stumbling over a bunch of them and no at the time He wasn't under the influence of anything either In fact, I'd be willing to bet more than half of all the coconuts in Latin America
[02:21] Just hit the ground and rot here yet They're a very valuable commodity But somehow the locals don't seem to be able to grasp that Except for the occasional little guy with a machete and a pushcart Whacking off the tops of coconuts and selling you coconut water for like 40 or 50 cents a throw and by the way Those are off the tourist trail prices Meanwhile the most valuable part of a coconut the coconut oil itself is totally wasted So the irony of it is with all those coconuts low-cost coconut oil is almost impossible to find Even though years ago before cheap palm nut oil flooded the market that was the cooking oil everyone in Latin America used Coconut oil that meant before 30 or so years ago if you went into the average Latin Americans kitchen right next to the stove
[03:08] You'd see a jar of coconut oil a can of chicken fat drippings Yuck, and a can of bacon lard double yuck back Then it was rare to find a fat or really obese Latin American now I have to tell you back when I was a kid in Chicago I remember in my mom's kitchen next to her stove She had a can of Crisco and a can of bacon fat, you know lard again Yuck, we think it's gross now, but back then in the States Practically everyone used Crisco and lard and even olio margarine remember that and by the way down here in Latin America Margarine is dirt cheap too and used extensively by the lower middle and upper classes and sure There's real butter down here, too But when you're at a latin's house for dinner, let's say you'll rarely find any family that uses the real thing
[03:54] Not that that's any good for you either, but it's probably a lot better than margarine And by the way margarine down here is used so ubiquitously that no matter where you are at a latin's house or a restaurant They'll serve you what they call mantakea, which means butter However, 90% of the time it won't be butter but margarina, which is margarine Even though they use the name butter mantakea Interchangeably for margarine margarina, which is about a third to half the price of real butter Mantakea and even more confusing the word for bacon fat or lard is Manteca, which sounds a lot like the word for butter Mantakea now one thing I noticed a long time ago when I first came down here to Latin America When you go to a Latin bakery and they'll have one on practically every other corner
[04:42] You can almost never get a straight answer out of those guys when you ask them if they use butter margarine bacon fat or lard Or hydrogenated palm oil all of which you know aren't healthy for you at all So just remember that when you go to a Latin bakery, which is why I gave up on Latin baked goods more than 10 years ago That's why my stomach and intestines have been kind to me ever since now Like I said when I was a kid There was a hell of a lot of Crisco in the neighborhood in Chicago and at that time down here in Latin America Crisco was a rare commodity imported and expensive and back then Latins did have an all-purpose substitute for that It was called coconut oil. And of course, they never even dreamed that it's considered the best and healthiest oil of all for cooking They just got lucky with the abundance of coconuts and hit on a good thing
[05:29] But it's not easy to get oil out of a coconut and get this so it's always some old-timer in the family that had the extraction Process down pat but these days with all that cheap hydrogenated palm oil around extracting coconut oil from scratch is a lost art Except like I said on the past show within tiny little populations of old-time black latinos living on the Atlantic and Caribbean Coast and even then they only make it up in small quantities a pint or two at a time So basically if you're into health and you're a gringo or expat down here in Latin America You'll find coconuts all over the place In fact way too many of them, but you'll have a hell of a time finding coconut oil So instead people who are into the health aspects of it 95% of whom are gringles and expats who've really studied the matter and who listen to people like Gary
[06:18] No For example They end up ordering it on the internet from places like Amazon and pay the extra shipping and taxes or have people actually bring it down Here for them when they're visiting and when you get coconut oil from up in the States or from Amazon Where do you think it comes from not down here in Latin America, but from the Philippines? Anyway a few shows ago when I mentioned my idea of expats getting together down here in various parts of Latin America and Setting up a coconut oil co-op business by making deals with all those old-timers who make this stuff on a small-time basis On the Atlantic and Caribbean coast well right after that I got a very interesting email from one of my new friends who came down to my last expat wisdom seminar now He and his wife are looking to live down here in Latin America
[07:05] And they're exploring all over the place and lately they just happen to be in Nicaragua, and here's what they wrote me I'll paraphrase a bit to streamline things so here goes Johnny We loved your recent podcast on coconut oil, so I thought I'd tell you about our experiences with coconut oil down here in Nicaragua We spent the last six weeks on Corn Island Nicaragua where we bought coconut oil for $20 per gallon from a neighbor Which is even cheaper than the imported Spanish olive oil you can get here and before I go on with this email Let me add that in the show about that coconut oil business opportunity. I was talking about I also mentioned the availability of olive oil down here too So I guess that's why it's referring to it and just to remind you you can get all kinds of olive oil down here
[07:53] So there's no shortage of that, but again Surprisingly enough at about the same price you can get it up in the states So if you use olive oil a lot and you do want to know about getting it down here Just go back a few shows and download it Anyway, the email goes on to say down here in Nicaragua mature coconuts themselves cost about 20 to 25 cents Us each in the local Pope areas and let me jump in and clarify that to a pulp area is a little tiny mom-and-pop Grocery store oftentimes no bigger than a small garage now in most parts of Latin America They call them just tea and us but in certain parts of Central America like Nicaragua and Costa Rica and sometimes in Salvador They call them Pope areas and the word Pope area comes from the word popo
[08:39] Which means octopus and since an octopus has multiple tentacles It's a reference to the fact that at little stores like that They sell multiple types of goods and products what you might call a tiny little variety store It kind of makes sense when you see that a lot of these little tienes or pulp areas Actually have a small octopus as a logo painted outside their place. Anyway, I thought that was interesting enough to break into his email So let me continue. He says down here mature coconuts cost about 20 to 25 cents each and One gallon of coconut oil takes about 50 coconuts 5-0 bet you never knew that in contrast Soy or palm kernel oil is about five dollars a gallon Which is a fifth to a tenth of the cost of a gallon of coconut oil
[09:27] So there's no wonder why Latin's almost never use coconut oil anymore. Not at that price Plus he says the palm kernel oil will shorten your lifespan by about 25 years at least So that saves a lot of money in the long run, right? And by the way, he's not joking at all about how bad that cheap palm nut oil or any Hydrogenated vegetable oil is for your health. But the fact is 99.9% of all Latins you talk to haven't a single clue about the health effects or the studies that have been done on Palm nut oil or any hydrogenated vegetable oil versus coconut and olive oil It's just not on anyone's radar down here except for certain knowledgeable tourists expats Gringos and that small percentage of educated Latins who actually pay attention to such things
[10:18] That's why like I mentioned in the previous show that lately with the increase That is the greater trickle of expats and gringos coming down here to live in Latin America It's easy to predict that anyone who starts a local coconut oil business is bound to find a nice steady growing market for the stuff And funny enough most of the gringos and expats but not necessarily the tourists are the enlightened Educated types who know exactly what I'm getting at when I mentioned organic products and coconut oil and such Even looking at it from a distance. It's a win-win situation You've got all the raw materials you need not to mention people who already have the know-how to make the product and cheap labor But back to that email about the hunt for coconut oil in Nicaragua Anyway, my new friend Dean goes on to say
[11:04] Speaking of coconut oil our neighbor was maybe 70 years old or so and extremely fit and strong in fact down here They say fat that's f-a-t fat in Creole when they mean fit Which caused us some consternation the first time someone referred to us that way Anyway, this 70 year old guy makes coconut oil himself Including grating the coconuts and here's the general process number one clean and grate the coconuts to boil The shredded coconut over low heat three after the coconuts have released their oil pour or scoop the oil off the top of the mixture for heat the oil a bit longer to eliminate the last vestiges of water and
[11:53] By the way, he says the more water you can remove from the mixture at that point The longer the shelf life of the coconut oil and if you guys remember in that last show I mentioned that coconut oil and honey are The two natural foods that have about the longest lasting shelf lives In fact if they're prepared and sealed up properly they can last on your shelves for decades if not centuries and if you don't believe it look up tombs of the pharaohs because Inside the tombs more than a few times. They've actually found jars of honey that was still edible Nope, those pharaohs didn't seem to be into coconut oil nor pina coladas for that matter, but you get the idea Anyhow the email goes on to say I know there are more steps in the coconut oil making process
[12:40] But I found that guy's mosquito Creole dialect pretty challenging to understand and just as an aside here Here's something I know you expect wannabes are gonna like Nearly all the older black Latino folks on the Caribbean and Atlantic Coast speak English And yes, they have heavy dialects But you can pretty much understand them and if you don't have them slow down and repeat it a couple of times And you'll get the gist and of course they speak Spanish too, but it's good to know they speak English In fact, that's why so many wannabes talk about moving to Belize though as you know by now I don't recommend Belize much for expats, you know because I've blathered enough about that in my past shows anyway Now here's the real interesting part of the email for expat wannabes. He goes on to say
[13:29] We recently arrived in Granada, Nicaragua and just met an expat who is doing exactly what you described on your show His name is Jim. His enterprise is the pearl lagoon coconut oil company And he's been selling coconut coconut oil and coconut oil soap and he's been in business about a year and a half now Jim buys his coconut oil from Nicaraguans on the Caribbean coast Mostly around Pearl Lagoon north of Bluefields He provides five gallon buckets for them and says it takes them about eight and a half to ten hours to make a batch of five Gallons or maybe that's what it took to make one gallon I'm not sure at any rate by the time Jim has done his quality control Trucked it into his production facility in San Juan del Sur run the oil through a better filter
[14:19] Packaged it into consistent containers slapped a nice label on it and distributed it through the region. The price is now 55 bucks a gallon and that's the price if you buy at least one gallon if you buy less it costs you more He also sells it in small containers down to about three ounces Marketed as a skincare product now You might be able to talk Jim down a bit if you buy five gallons at a time and don't want the label But the thing is at 55 bucks a gallon. That's a little bit higher than USA prices for oil from the Philippines Even the super high quality coal pressed Certified organic gold label oil from tropical traditions that we used to buy five gallons at a time But even though it was expensive we bought a gallon from Jim because it's just so good
[15:08] Then he says though. This is far from gringo Jim's first Entrepreneurial venture there may be a few efficiency improvements. He could ring out of the system for one He doesn't truck the oil back himself. He relies on others for that So he suffers about a 10% loss somewhere in the process hmm Anyway, by the time the five gallon buckets reaches facility in San Juan del Sur Who knows who skims it but somebody does now Jim lives in Granada with the bottling in San Juan del Sur and production in Pearl Lagoon and He himself spends much of his time traveling to retail stores so he just can't keep an eye on any part of the process and
[15:56] By the way, he ships product in small batches into neighboring countries, too So he has frequent problems with the adwana officials and down here the adwana means customs That's our Dwana Then he says in the email it might be better to live and set up a bottling facility in blue fields then sell product only in Nicaragua while getting import licenses arranged for the US and Then shipped directly from blue fields to Miami Then he mentions Jim's website And if any of you expat wannabes or gone a bees are interested in connecting with coconut Jim Just shoot me an email and I'll hook you up So anyway, what do I have to say about this guy Jim and his coconut oil enterprise?
[16:42] Well again for the 10,000 time another expat makes good in a business That he never would have had a glimmer of a thought about when he was back up in the States Contemplating coming down here to live again It was boots on the ground and a couple of false starts, but like so many other expats he found his niche So three cheers for the gringo advantage and as you might have noticed even though he's got a few loose ends to tie up in The system seems like he's chugging right along and it looks like he's got absolutely no local competition In fact, it sounds like he needs a gringo partner or two Maybe someone who knows a little bit about internet marketing and speaks a bit of Spanish Anyway, that's a great example to show you guys how a gringo can get things done down here
[17:28] And if you noticed all the while a nice little business opportunity was sitting right there under the noses of the locals And they never realized it and if they did never saw the potential it's all about a little vision forward thinking and Attention to detail and that's one thing we gringos grew up with and those are things We just don't notice when we're living up north We only realize we have a more exacting outlook on things after we've had boots on the ground for a while down here That's when it really sinks in how half-assed the locals do things and still they somehow succeed Now that's not to slam the locals. They're doing what they can the best they can I mean, they're surviving and they're eating a lot of times just barely But I'm talking about the half-assed way
[18:14] They do things in comparison with the way we were brought up and we're used to seeing things done first world style Which is part of our gringo advantage, of course, and why we so often succeed now Of course there are gringos that don't succeed down here and some of them give up and go back home and some of them learn by their Mistakes keep plugging away and eventually get something good going and when I've talked to gringos and expats who haven't succeeded There are generally three reasons that keep coming up One is that they had bad legal advice no legal advice at all or a crooked lawyer And that's why I suggest you listen to those shows where I talk about getting a lawyer down here and how to handle the legal And personal relationship you have with him And by the way The people that come down to my expat wisdom seminars never again have to worry about getting excellent legal advice because during that seminar
[19:03] I make sure they're hooked up with all the right people and by the way since I mentioned the seminar My next one looks like it's gonna be in January So if you're really interested and you want to get my special mailings on that just shoot me an email The expat files at gmail.com or Johnny at expat wisdom.com and you'll hear about all the details Shortly, but back to those three common reasons that I hear from expats who have failed in business down here like I said the first reason is because of bad or Non-existent legal advice or even a crooked lawyer and the second most common reason why an expat fails in business Well, that's because many times they hook up with a Latin partner who's got a ton of shortcomings. Maybe he's lazy Maybe he's bad with money or maybe he's just slightly dishonest and likes to skim if you've been in business before you know
[19:48] How partnerships can go? It's always a very delicate situation Anyway down here even more than up in the states you really have to be selective when picking your partner So why pick a Latin partner anyway? Well, one of the main reasons why I see gringles and expats pick Latins as their partners It's because they think somehow that Latin guy has business or political connections That'll help and secondly a lot of new expats especially do not know their Spanish well enough So they have a lack of confidence in working in a system. That's all in Spanish Basically, they're insecure because they're in a foreign land and don't think they can do it all themselves So sometimes they hook up with the first bilingual Latin guy that seems like a decent match for them
[20:33] I've seen that happen a number of times and that my friends often doesn't work out And that's why so many expat gringles down here who have succeeded in business started out Having a Latin partner and after a while a good percentage of these partnerships went sour Mostly because the Latin guy did not hold up his end of the partnership or the deal in general Remember the bottom line here is you're the guy with the gringo advantage the one who's big on details Not him no matter how sharp and knowledgeable you think your new Latin partner is well, I have news for you He's gonna be the one with the third world business habits Not you and sure he might have what you think are good business and political connections But that only goes so far. Believe me The fact is if you have a good relationship with your lawyer, you'll rarely need a Latin partner
[21:22] So don't jump into anything like that too soon. The fact is in my 20 something years down here I've only had one Latin business partnership that actually worked and that was guess what with my lawyer And the sad fact is nearly every single gringle friend of mine who's in business Who's had a Latin partner ended up having trouble somewhere along the way and having to ditch him or buy him out Some way or another now, basically I'm talking about 50-50 partnerships here Not always a good idea when your partner is a Latin That's not to say you can't train Latins to be managers or administrators for your business Expats and business do that all the time and as long as you're doing the training it works quite well Now that's not to say you can't have a Latin as a limited partner in your business
[22:08] Let's say like expat Eddie you got a number of restaurants and you just can't be everywhere So for example, you give a Latin manager you trust five or ten percent of a single restaurant Which is not a partnership deal in your whole corporation Just in a single location that he's responsible for anyway You get the idea when someone in a company owns even a little piece of it and have some participation No matter how small they often try harder and go the extra mile But just a word of warning here one successful gringo told me when you have a Latin partner at first With your bad Spanish and not knowing your way around You might feel relieved and comforted to have a guy or gal like that to lean on But it won't take long for you to realize that you're not really getting much from that person
[22:55] He's the third world Latin that's learning first-world things from you The fact is you're the best teacher and in fact probably the best piece of luck that person's ever had in his life So in reality, it's never really an equal partnership And that's why so many expat Latin partnerships fall apart Many times you'll find you're better off on your own from day one or hiring a Latin manager or right-hand man without any company participation at least at first and if you really do need a partner Consider hooking up with another expat or gringo though I can't say in the long run those kind of partnerships work out so great either in fact right now two of my good friends who are Both Germans created what you might call a small empire of bars discos and get this
[23:43] Italian restaurants Now they've split their friendship and their partnership after 20 years and they're not even on speaking terms anymore And again, these are two guys that came down to Central America from Germany 20 or so years ago Not knowing any Spanish with only about 5,000 bucks in their pocket and now between them They've got beach houses and airplanes and Mercedes roadsters you name it But they're not friends anymore and for those of you out there who might be thinking there were women and divorces and cheating involved in That breakup. Well, you'd be right Like I said, even if you have a successful business down here, you're gonna have a lot of time on your hands So you need more diverse hobbies than just margaritas and football, you know And just a note if you get into the bar and restaurant business
[24:31] There can be an awful lot of mischief and temptation going on there, too Now I know I've strayed a lot from that original email about the guy in the coconut oil business So let me make a stab at finishing that here now Let me tell you I'm happy for this guy In fact, this is the first story I've ever heard of an expat gringle actually starting up one of these coconut oil co-op businesses like I've been urging some expat any expat to try doing and for somewhat selfish reasons because I need to buy Coconut oil sometimes myself and I hate the idea of getting it from Amazon and having it shipped down even worse It's coming from the Philippines. Now. I've got nothing against the Philippines, but it's just so damn ass backwards I mean when you've got coconuts practically falling on your head down here
[25:17] There's just something wrong with having coconut oil shipped in from 3,000 miles away, you know Now as far as I know this guy coconut gym is the lone ranger in that business I don't know anybody in Salvador Guatemala, Nicaragua Honduras Panama or even Costa Rica That's doing what he does and if they are they're certainly way under the radar Meaning the field is wide open and there's a huge potential for profit now I'd just like to mention one little thing He says that in the both Maria's down in Nicaragua the little food tien does the little corner stores that the coconuts are going for 20 to 25 Cents apiece, which means if you buy 50 coconuts there to make one gallon of coconut oil in the end You've paid about only ten dollars for the raw material so let's say along with the wood used as fuel to heat it up and the bottle and the label you've got
[26:07] $12 into a gallon of coconut oil and apparently it looks like it takes an eight-hour day for one person to make five gallons and if you pay that Laborer the going minimum wage down here, which is like ten or twelve bucks a day The added labor cost to make a gallon is about two bucks or so based on that Let's say it takes 15 bucks to make a gallon of coconut oil down here now US prices from Amazon for a gallon of top quality cold pressed organic coconut oil is about 40 or 45 bucks a gallon That's getting it shipped to you in the States. And if you have it shipped down here, well, you can just about double that Anyway, let's assume we're talking about stateside prices here And if you can make a gallon for 15 bucks down here, that means you've got a profit margin of about
[26:56] Two-thirds or 66 percent that is if you were to sell it down here in Latin America for the same price They get for it up in the States 40 or 45 bucks a gallon not 55 like coconut Jim selling his for But the news is a lot better than that because like I said before you can buy coconuts Individually down here for 20 to 25 cents each at the Pope Maria's Well, guess what if you buy coconuts by bulk you can get them for less than 10 cents apiece Oh, I just noticed I'm running dangerously close to the end of the show here. So we'll pick that up next week South of the border Down Mexico way you've been listening to the expat files living in Latin America coming to you twice a week from somewhere south of the border
[27:43] Email me the expat files at gmail.com and don't forget to check out expat wisdom calm to sign up for your free Reports on Latin America. See you next time. No spamos