(Bloomberg) One of Brazil’s most revered hedge-fund managers is seeing a buy opportunity in Vale SA’s record plunge. Rogerio Xavier, who helps manage 19 billion reais ($5 billion) in assets at the helm of the SPX Nimitz funds, said he started building up his position in shares of the world’s largest iron ore producer after a fatal accident at a dam owned by the company. The breach, which has so far killed 84 people and left over 270 missing, caused a 25 percent plunge on shares on Monday, wiping more than 72 billion reais from Vale’s market share and prompting analysts’ downgrades and warnings from ratings firms.
Brazil Hedge-Fund Icon Scoops Up Vale Shares After Dam Disaster
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