Hedge Funds

Fraga's World Cup analysis


 Arminio Fraga

Arminio Fraga, the former Soros partner and Brazilian central bank chief who now runs his own Gavea Fund, took issue with a recent Goldman Sachs report, "World Cup and Economics 2006 Survey," that drew parallels between a country's financial success and its prospects for winning the World Cup. In an investor letter, Fraga held out hopes for Brazil, writing: "Let us just hope that as in football - where our drought between World Cup wins lasted 24 years - in the economy the current 24-year era of low growth is coming to an end."