He director of IEB, Andrés Nobile, focused on the success of bleach and the challenges for the future, when participating in the second panel of Scope Debate about Finance & Investments in the Milei era.
During the event, which was moderated by Ámbito’s Economy, Finance and Business editor, Juan Pablo Marino, Nobile highlighted the Government’s good direction in economic matters and focused on the fact that “bonds rose 60% in the year, the Merval rose close to 50%, the S&P in the United States rose 20%.”
The importance of laundering
“Now we are in stage two of the Government, with the focus on money laundering. More than $12 billion entered new accounts and that reinvigorated the euphoria about assets, of which a third of the increase occurred in September,” highlighted the IEB leader and anticipated that “in November and December what is coming is the budget and questions about when they think the stocks can be released.”
“The market had a high expectation, but needed to validate it with data that actually occurred. Money laundering does not come to support the collection nor to finance the Treasury, but rather it comes to seek that reactivation of sectors of the economy that is slowly taking place,” Indian.
With all this in mind, he assessed: “We give it an extremely positive mark that also moves forward “can bring or favor the lifting of the stocks.”
The economy and the exchange rate
When analyzing the current economic reality, Nobile considered that “good inflation data will favor the carry trade waiting for rates to improve and to be able to extend deadlines in the tender”, while he anticipated: “I think the rally is going to extend to sovereign bonds, trying to find that floor of 1,100 basis points of country risk.”
“Both Milei and Caputo have spoken about the fact that the stocks will be lifted when some conditions are met, among them when the monetary base coincides with the expanded monetary base, the LEFI are eliminated and everything is absorbed by the demand for money and when inflation reached 2.5%,” he stated and predicted: “We are not far away and some think it would be possible to do it in the summer or after the elections.”
To that, he added “the tailwind from the international side, with the Fed lowering rates a few weeks ago and the announcement of the stimulus package in China, to which the entire local sphere is added and complemented,” which is why he indicated: “It seems to me that there is room to take risks.”
Tips for conservative and risky investors
When putting together an investment portfolio, Nobile pointed out that “a conservative portfolio would indicate having fixed income, both in the peso part with low volatility and the dollar part, either through instruments directly or in the form of funds and incorporating to a lesser extent sovereign bonds.”
In parallel, a riskier portfolio would include “a higher weighting of the part of sovereign bonds in dollars and surely a portion of Merval Argentina, “That with a country risk that can pierce 1,100 points with the stocks, it should perform very well according to the future of investments in Argentina on the energy and banking side.”
Expansion and democratization of investments
Regarding the role of IEB, Nobile maintained that the firm “It has been characterized by constant expansion and today it is a financial services company extended to technology and Real Estate,” while he warned: “Growth has not ended, we will surely put some effort into new businesses because our shareholders have a very optimistic commercial view.”
“The idea is also to democratize investments with our Real Estate fund that can be purchased through the app, with small amounts of money to access bricks that way,” he added.
Source: Ambito
I am an author and journalist who has worked in the entertainment industry for over a decade. I currently work as a news editor at a major news website, and my focus is on covering the latest trends in entertainment. I also write occasional pieces for other outlets, and have authored two books about the entertainment industry.
