Tuesday, April 17, 2012

Don't Cry For Me, Argentina

Perennial economic problem child Argentina is back in the news for the proposed nationalization of YPF, the country's largest oil company. A number of Argentine companies, including YPF, have ADRs which trade on US exchanges.  YPF has been halted as of today, but TEO (telecom argentina), which trades with a 10% dividend yield is down over 8% today.  Below is a chart of the Argentine Peso, which has lost almost 30% of its value since Kirchner was elected in late 2007.

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