In a roundtable with The Wall Street Journal four of the most preeminent asset managers discussed their outlook for the economy, and while they expect rough times to continue for some time to come, they do see pockets of opportunity.

George Soros, who called the current market a “trading market,” is optimistic about the emerging markets of China, India and Brazil. John Paulson likes distressed debt, top-rated residential mortgage bonds and companies in bankruptcy. Alan Fournier is better on healthcare, and James Melcher is investing in corporate bonds.

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