 A Brazilian asset manager posted a deep loss in its long-only equity fund as its bullish stance on Argentina crumbled this week, while its larger long-short hedge fund escaped with a relatively minor loss, internal fund data showed on Wednesday. Newfoundland Capital Managements long-only strategy, heavily skewed to Argentinas stock market and with roughly 300 million under management as of the end of last week, took a substantial hit as the Argentine market tumbled 38 on Monday. Argentinas benchmark stock index is down 33 so far this week after results from a primary election on Sunday dealt a blow to market-friendly President Mauricio Macris re-election chances in October. 