Hedge funds bet on Argentine recovery by piling into stocks

Source: Financial Times
By: Miles Johnson and Elaine Moore

07.31.2014

Some of the world’s largest hedge funds have been snapping up Argentine stocks, betting on an economic recovery in the country even though it defaulted on its debt for the second time in 13 years.

Hedge funds have built positions in Argentina’s energy companies, banks and telecoms operators in a show of confidence that the clash between Buenos Aires and its holdout creditors is yet to be resolved.

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