Fidelity Investments’ John Carlson and DoubleLine Capital LP’s Luz Padilla pursue different strategies in their emerging-market debt funds. One thing they have in common is buying bonds denominated in U.S. dollars.
U.S. stocks advanced, giving the Nasdaq-100 Index its biggest gain this year, as Apple Inc.’s earnings almost doubled and Federal Reserve Chairman Ben S. Bernanke said he’s prepared to do more to stimulate growth.
Retail investors in the U.S., burned by two market crashes in a decade, have shunned stocks for the longest stretch in more than 23 years, upsetting the balance of power in the $10.5 trillion mutual-fund industry.
Caxton Associates LP and Crispin Odey’s hedge fund were among buyers of Bank of America Corp. shares in the first quarter before the lender halted its capital plan and sparked a 15 percent stock plunge.