A Chill in the Air in Brazil

Latin America–based hedge funds aren’t the irresistible lure they were just a few months ago.

Latin America–based hedge funds aren’t the irresistible lure they were just a few months ago. Some have seen drawdowns of as much as 40 percent as commodities prices have reversed the past year’s sharp climbs. Broader risk aversion among investors who have the subprime jitters only adds to skepticism regarding a region that doesn’t exactly have a history of economic stability.

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