Entrepreneur & Investor.
Entrepreneur & Investor.
Elliott vs Argentina

Issue#29: Elliott vs Argentina

NOTE: this was a past issue of my weekly newsletter, Friday Gems. Join my free mailing list so you don’t miss out on future issues.


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Today’s gem is this 2018 article titled Paul Singer, Doomsday Investor. It profiles Elliott Management, a New York-based hedge fund that brought the country of Argentina down to its knees (not even Messi could’ve saved them from this one).

Elliott had purchased Argentina’s sovereign bonds for $100m (pennies on the dollar), and successfully sued the Government of Argentina in court to collect $2.4bn in debt settlements. The saga includes regime changes, government corruption, standstill, and even a point where Elliott seized an Argentinian navy vessel off the coast of Ghana. File this one under “adventure-seeking capitalists”!

The article also includes other activist (and perhaps questionable) endeavours by Elliott. They’ve built up a reputation for being ruthless investors, and these stories reveal exactly why.

P.s. if you want to read about another larger-than-life brawl involving Elliott Management, check out the book The Caesars Palace Coup. It is an incredible read.