The Hedge-Fund Trade of the Year: Betting on Argentina

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The hot new trade on Wall Street has nothing to do with crypto, electric vehicles or artificial intelligence. It’s Argentina—the country infamous among investors for serial debt defaults.

WSJ The Hedge-Fund Trade of the Year: Betting on Argentina’s Chain-Saw-Wielding President

Argentina’s S&P Merval Index was by far the best performer in a group of 92 primary equity indexes globally, according to data compiled by Bloomberg. That reflects investor optimism about President Javier Milei’s efforts to quell inflation and reverse years of endemic budget deficits. A sum of $10,000 plowed into the gauge would have become $21,377, adjusting for currency moves.

How $10,000 Fared in 2024 Across a Range of Standout Investments

Wars in Europe and the Middle East. Global political upheaval. Angst over a potential US recession. These and other pitfalls stalked markets in 2024 but in the end investors who embraced risk reaped the rewards.

www.bnnbloomberg.ca