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The Argentine ETF (ARGT -4%) continues to tumble (off 13% in a month) as the U.K. sends a...

The Argentine ETF (ARGT -4%) continues to tumble (off 13% in a month) as the U.K. sends a warship to the South Atlantic. Yesterday, President Kirchner yesterday called the U.K.'s claim on the islands "absurd." Also not helping are growing threats of nationalization of the country's oil giant YPF.
Comments (2)
  • MYALFA
    , contributor
    Comment (1) | Send Message
     
    I lost all my money in 1997 crash. I reentered the marked in 2000 with caution and I was hit again in 2008, but gradually I pumped all what I could safe into my account with the broker and put most of my eggs in to YPF basket ( in margin account) taking big risk and not listening the expert opinion about avoiding YPY hoping that Argentina will not take such stupid step to nationalize the company or even to talk about it as such action will have negative impact on the country economy.
    Now I am in late 50's, and I don;t know if I can bear the 3rd strike. I ' am on the poundry of margin call if the stoke move lower,
    5 Apr 2012, 01:23 AM Reply Like
  • FlaYankee
    , contributor
    Comments (113) | Send Message
     
    Given that the government has already announced to take over YPF in some form any investment in that company is dead money at best or possible close to total loss at worst. The present government is on the path to self destruction and the economy is what will pay the price. It has undertaken a massive misinformation campaign on its attack of YPF while ignoring long running government policies which have strangled the profitability potential of any oil and gas investment. Continued pressure on other Argentine companies to withhold or cancel dividend payments is unwarranted government interference on private companies. There is a reason that capital is leaving the country and much is due to the poor handling of the economy and policies which are counterproductive and will accelerate capital flight. On the other hand this is the duly elected government and sometimes you have to reap what you sow.
    5 Apr 2012, 08:21 AM Reply Like
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