Episode 17: Ricardo Adrogue - Emerging Market Debt

If you really want to know what’s going on in the world of finance, talk to an expert in Emerging Market Debt. Emerging markets tend to represent the marginal risk capital in an allocation. It’s dependent on global liquidity and can serve as the canary in the coalmine of economic cycles. Like any debt strategy, rates and credit are really important. But here – we layer on the willingness of a country to pay. And you could always end up paid back in a depreciated currency. Bottom line, there’s a lot of risk and a lot of potential return here. And figuring it out are some of the smartest people in the investment world.

For today’s conversation, we’re fortunate to be joined by Dr. Ricardo Adrogue, Head of Global Sovereign Debt and Currencies at Barings. Ricardo has worked in the industry since 1992 – investing for Barings, Cavezon and Wellington. He’s also spent time at the IMF conducting inflation modeling for central banks, including Brazil. He’s served as an adjunct professor for Latin American economics at NYU. Ricardo holds a BA in Economics from Universidad Catolica Argentina and a MA & PhD from UCLA.

This podcast was recorded on September 17, 2021. The respective opinions expressed are those of Mr. Adrogue and the Biltmore Family Office, LLC investment team. The opinions referenced are as of the date of this podcast and are subject to change without notice. This material is for informational use only and should not be considered investment advice. The information discussed herein is not a recommendation to buy or sell a particular security or to invest in any particular sector. Forward-looking statements are not guaranteed. BFO reserves the right to modify its current investment strategies and techniques based on changing market dynamics or client needs and there is no guarantee that their assessment of investments will be accurate. The discussions, outlook and viewpoints featured are not intended to be investment advice and do not take into account specific client investment objectives. Before investing, an investor should consider his or her investment goals and risk comfort levels and consult with his or her investment adviser and tax professional.

Biltmore Family Office, LLC is an investment adviser registered with the U.S. Securities and Exchange Commission. Registration does not imply a certain level of skill or training. More information about BFO’s investment advisory services can be found in its Form ADV Part 2, which is available upon request.