Brazil's Gavea Gets Defensive

Brazil's Gavea Gets Defensive

Funds

The next several months will be challenging for investors, says Arminio Fraga, head of Brazilian hedge fund Gavea Investimentos, and a former head of Brazil's central bank. “I’m expecting we’ll see a substantial amount of volatility over the next few quarters,” Fraga tells LatinFinance, noting he’s already taken more cautious positions in his portfolio. “Staying liquid and paying attention to value makes a lot of sense now,” he adds. Fraga notes that bull markets allow investors to take more agg

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