I sold out of a small position of mine last week in GGAL. The stock ran straight up like a bat out of hell. As a matter of fact, the entire Merval, Argentina’s main index, is up 46% for the year and up 31% over the past month alone.
Ask me why?
Zero fucks.
All I know is some asshole is going to replace another asshole as Presidente. As such, people can’t get enough of this Merval.
Here are Argentinian stocks listed here, with their fanatical one month returns, courtesy of Exodus.
If stocks aren’t your thing, being a dumbass advisor who solely depends on ETFs for business, have a look at ARGT. Here is how its stacked up v the Merval this past month.
Do we chase here?
The fuck do I know? Quit trying to kill the middle man. All I know is, while we’re over here getting our fingers cut off with these bastard stocks, fuckers in Argentina are getting rich, drinking cervezas, and having lots of siestas.
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Do they even have Facebook down there?
What an insulting question. Of course they do … they’re not animals.
Now, as far as having an effective justice system, sane monetary policy, cogent policies designed to improve the economy, or indoor plumbing, those are different matters.
Hmmm well at least all but the homeless here in the good ol USA have indoor plumbing
http://fortune.com/2015/10/30/valeant-itt-charlie-munger/
Charlie Munger on VRX
“While promising change, Mr Macri assures voters that it will not be too abrupt. He would end exchange controls and allow the peso to float, but has promised not to undo the nationalisation of pension funds or of YPF, an oil giant. He would leave generous welfare programmes untouched. Voters want a president who will fix the economy without leaving anyone behind. Mr Macri may be the one to convince them.” – The Economist
In hyper-inflation, you want to own equities.