Investing In Argentina Like Buying Alabama Beachfront After BP Spill

Cristina Fernandez de Kirchner has led Argentina into an economic mess, but value investors should pay attention, says Jim Grant in a recent issue of Grant’s Observer: in the near future Argentina could do not one favor for value investors, but two. Argentina can’t get any worse For value investors seeking to invest in bargains, a strategy known in algorithmic trading as investing in a drawdown, Argentina is almost a perfect case in point. “Like Russia, Argentina is so bad it almost can’t get any worse,” Grant noted, citing one of the tenets on investing in a mess of a…