Hola, Leonardo.
No, I have not had the pleasure of visiting Argentina. But, yes, I have committed a considerable amount of time studying every aspect of a country that not too long ago was the world's 5th leading economy.
Am not set-up to purchase Perez ordinary shares. Must be patient until the 2:1 ADRs dip below US$10.00. It is a favorite of mine.
As an aside, I can recall how incredible it seemed to me when I first purchased interest in Perez Companc at US$6.75 per ADR. I can also recall my exact words to an associate: "I had wanted to pay $6.50. But why quibble over 25 cents when we're talking about a 13 dollar stock?" Those who new of the company's history and commitment to re-structuring were equally amazed that it could be purchased so cheaply.
I would also be the very last to disagree w/ your comments on Siderca. An advancing Argentine economy leaves much to be enthusiastic about. Within that sector, and from a strictly S.A. perspective, I have in the past shown a preference for the Venesuelan SIVENSA. I was not aware, however, that ERCA owns Tubos and Tamsa! Thank you for that information.
There is much I would endeavor to ask you, Leonardo, about Argentina. I have followed the nation's politics for many years. It has been disappointing at times too. "One step backward for each step forward" is how it often seemed. Also, reading of Mr. Cavallo's exploits was an interest. "Argentina is not Mexico!" Wasn't all that long ago was it? Times are fast changing.
My composition might indicate that I have not been active with my S.A. interests in some time. It is true. About 14 months to be specific. Soon though, very soon.
I'll close by mentioning how amazed I was on first knowing of the vast tracts of mineral-rich but as yet unmolested properties there are in Argentina. (I watch the mining sector from time to time.) I had certainly known Argentina is resource-wealthy, yet it is only as numbers begin flashing in front of you that one realises the extent of the wealth. But the main reason much of this wealth remains untapped brings to mind many sorrowful instances. Yes, I have followed events very closely.
I am happy to speak of opportunities ahead.
Regards,
Tom |
