He director of Guardian Capital, Tomás Ambrosetti, participated in the second panel of Scope Debate about Finance & Investments in the Milei era and outlined the path of opportunities that opens up as a result of the Government’s economic management.
In the cycle, which was moderated by the editor of Economy, Finance and Business of Ámbito, Juan Pablo Marino, Ambrosetti proposed “a very optimistic scenario,” contrasting that “We went from a political and economic context where everything was more anti-market and there was no desire to pay the debt to one where there is a will and ability to pay.”
“The country’s macroeconomic accounts began to be put in order a little and that demonstrates the solidity of the State that can face its debts. On the other hand, the fact of wanting to pay improved; before there was talk of refinancing. So that is peace of mind that is brought to the market and we see it later in other variables such as country risk and the falling exchange rate,” projection.
Along these lines he added: “We are also in a context of money laundering where a large volume of new money enters and is poured into different types of assets in the Argentine market and that results in increases in market prices.”
Dollar without any surprises and how the exit from the stocks will occur
In turn, Ambrosetti agreed that “There is not much reason to expect a strong jump in the dollar,” as on previous occasions. “We see that customers “They are not so desperate to dollarize those pesos they receive,” He maintained and pointed out that “today, with inflation still falling, there are still quite attractive rate instruments in pesos,” he highlighted.
About exchange stocks, He stated that the Government monitors devaluation and inflation. “When they are at 2%, it would be easier to lift it,” he analyzed and clarified that more important than when is how: “Today we do not imagine that we are going to freely buy dollars from the Central Bank from Home Banking, but rather that the restrictions and regulations that today prevent the free marketing of the MEP and the CCL, such as parking and daily amounts available, will be lifted.” .
Recommendations when investing
In parallel, Ambrosetti proposed for a conservative investor “a 100% fixed income portfolio where you have Negotiable Obligations from top companies with returns that can range from 5 to 8%, such as Vista, Pampa and the energy sector that usually has good coupons”:
“For a more moderate to aggressive profile, we would put other proportions and assets. Always fixed income with 80%, not all ON but sovereign bonds and 20% go to variable income: 10% could be allocated to S&P and the other 10% could go to Argentine stocks following this evolution of the “Merval.”
Advice, search for financing and education
Ambrosetti referred to Guardian Capital as “a financial advisory company focused on the local and international capital markets” And regarding his role, he stated: “We advise individuals on investment portfolios and companies on cash management or the search for financing.”
Added to that is the financial education leg. “We offer talks, give classes and training at the secondary and university levels, providing information to the new generations about why it is a tool that they should have and know what a client account is in addition to knowing what a virtual wallet is,” he explained.
Source: Ambito
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