Ray Dalio, the hedge fund manager who heads Bridgewater Associates, is betting on a Brazil ETF.

Bridgewater bought 2,002,700 shares from Brazil ETF, which is pegged at $56 per share. This is the firm's biggest new purchase for Q2, reports NASDAQ.

The Brazil ETF has been down 21 percent from its peak in March. Dalio's purchase speaks a lot about the economy in Brazil, the story notes.

In this quarter's Outlook and Markets Discussion, Dalio says that he sees additional long-term deleveraging which includes "negative real earnings growth, negative real yields, high defaults and sustained lower levels of commodity prices" in the US markets.

 

Edited by: HFD


Stay ahead of the news ... Sign up for our email alerts now
CLICK HERE