There has got to be some kind of journalistic ethics violation here. (j/k... journalists have no ethics).
-PJ
The $20 billion backstop came at just the right time to save their asses.
That is really annoying to hear, as I really like Bessent. I also like Milei, but I’m not happy to hear that he wants to make a move on the Falkland Islands.
Reading the news is just...so...aggravating!
Government is corrupt, just differing degrees.
Spying on Cabinet member phones now. No matter how much you hate the media, it’s not enough.
Spying on Cabinet member phones now. No matter how much you hate the media, it’s not enough.
Milei has been preaching about reducing tariffs in Argentina for years.
I doubt this had anything to do with some bond investments.
How is anyone who lives in New York and is active in the financial community, expected to *not* have friends who are going to be impacted by national decisions, one way or another!
No matter what decision Trump and or Bissent makes, some of their friends are going to be impacted, probably both sides of the equation.
We sell soybeans all over the world and use more of our soybean crop here in the u.s. than we export. Argentina NEEDS its agriculture exports for more than we do. Our soybean farmers will adjust, and even change crops as an adjustment.
$20 B is a drop in the bucket to help out a guy who is more pro-freedom than the last 75 years of Argentinian leaders.
Sometimes pragmatism is a good approach, sometimes it is a bad approach.
In this case it is a good approach.
Citrone's hedge fund has been one of the top performing hedge funds in 2025, (up 17% thru July)and that's before any bailout.
If Discovery holds any Argentine bonds, I suspect it's a very low percentage of their entire holdings and even a small percentage of their AMX holding.
Bissent hasn't "saved their asses".
“”The messages referenced the $20 billion aid package by the Trump administration designed to help Argentina and its president, Javier Milei, a Trump ally.””
Um... $20 BILLION????? What the hell? Why the hell?
Only to have them stab us in the front. Who is the compromised idiot that is “advising” Trump this time?
“”As a side matter, be aware that Bessent has friends in the hedge fund community, including his former colleague, Rob Citrone of Discovery Capital Management, who were underwater in their Argentina bond investments. The $20 billion backstop came at just the right time to save their asses.””
This may not be relevant... and may seem like I’m a conspiracy theory fan, but....
isn’t Argentina the country where most of the Nazis fled to after WWII? I’m sure it’s merely (another) coinkydence. Nothing to see here. Move along and feel free to ignore the correlation.