Top Hedge Fund Says Brazil Pessimism Could Bring Happy Surprises

A growing number of pessimists are bracing to be disappointed by Brazil’s long-delayed pension overhaul. For one of the nation’s most-watched hedge funds, that may be a good thing.

``The market consensus today is way less constructive than what we saw at the beginning of the year, therefore there's more room for positive surprises,'' Verde Asset Management said in a monthly note to clients Tuesday.