"Gafisa S.A. (NYSE: GFA) is a bet on Brazil; the company is the country's second-largest homebuilder," says international investing expert Nicholas Vardy.

In in The Global Bull Market Alert, he adds, "Brazilian homebuilders are a red-hot sector in a red-hot market." Here's his review.

"Brazil is one of the strongest-performing global markets this year, and one that you should definitely have exposure to in the final quarter of 2009.

"Brazilian homebuilders are a red-hot sector in a red-hot market. Stocks in this sector have already doubled their share prices this year as policy makers cut interest rates to a record low and the government unveiled a 34 billion real ($18.8 billion) housing stimulus plan. 

"Brazilian President Luiz Inacio Lula da Silva's target is to build one million homes for low-income workers by 2011.

"As a result, Gafisa's sales are expected to grow by 25% in 2010 as its revenue from low-income housing increases to as much as 60% next year, up from the current 50%.

"Gafisa's stock suffered a sharp sell-off a few weeks back when Bank of America downgraded the company on news that Gafisa’s rivals announced additional share sales this year, thereby heightening speculation Gafisa would follow. 

"That turned out to be a false alarm. Gafisa's CFO has said that the company may sell bonds in Brazil this year, taking advantage of record low interest rates to repay maturing debt. 

"But it won't dilute existing shareholders through a share offering. So the bullish case for the stock remains intact. So buy the Gafisa S.A."