Matt Ryan and Ward Brown don't like to get burned. When the co-managers of emerging markets debt at MFS Investment Management smell trouble in a credit they own, they cut their position as quickly as possible, before others have a chance to do the same.
Emerging markets by nature offer investors healthy long-term returns, they argue. If fund managers can avoid the big blow-ups that hammer more adventurous investors every few years, they can do pretty well for their clients.
"We pay a lot of attent