Meanwhile, Fidelity Fund Manager John Carlson’s best idea comes from a country’s debt, which he described as “cheap and misunderstood.”
“My biggest overweight and probably my best idea is Venezuela,” he said. “I think the credit is really cheap. It’s yielding in the 12- to 14-percent range, and I think it’s credit with the ability to service its debt.”
Carlson added that he remains pretty constructive on the emerging markets and would not shy away from two of the biggest headline grabbers of late — Greece and Spain — once the coast becomes a little more clear.
“There’s going to be light at the end of the tunnel,” he said.
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