Gross Says Brazil Not Pimco’s Emerging-Market Favorite
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Pacific Investment Management Co.’s Bill Gross, hurt by a wrong-way bet on Brazil last year, said the nation is no longer a preferred emerging market for the world’s largest fixed-income manager.
Gross, speaking at the 2014 ETF Virtual Summit, said the firm still finds Mexican debt attractive. Gross is co-founder and chief investment officer of Newport Beach, California-based Pimco.