Tag: Néstor Kirchner

Back to Argentina, back to the big city, back to a massive new corruption and bribery scandal. It's sweeping up senior functionaries of the previous government, implicates the last president (and the one before that), and many business people have already turned themselves in. Some people think that macro environments don't matter when it comes to investing. But let's get back to the latest Argentine scandal. Centeno was just one driver for one department. You couldn't make this stuff up… (For more on the current perils of investing in Argentine stocks, see here. Beyond that, politics is having plenty of effect elsewhere. Turkish stocks, priced in US dollars, are now approaching the deep lows last seen in 2009, during the worst of the global financial crisis. In fact, you could have bought Turkish stocks as far back as 2005 and not made a bean of profit, in dollar terms. That would be most politic.