- Hayman Capital's Kyle Bass reveals he recently bought a large stake in YPF (YPF -0.5%), the Argentine oil company, as the best play on a new decade of economic growth in the South American country.
- Bass tells CNBC he foresees $100B-$200B of foreign direct investment in Argentina's oil fields over the next 10 years, "so YPF serves as not only a proxy to Argentina's equity market, but as the real dominant player in an energy business that we expect will be transformed over the next five, 10 years."
- He also rips "immoral" Elliott Management and other hedge funds that have invested in Argentine bonds and held out for full payment on their investments, saying they are punishing a country which can't afford not to access the international capital markets and harness its growth potential (NYSEARCA:ARGT).