Some hedge fund managers walk onto an Argentinian navy ship

Post by arbuge » Tue, Oct 09, 2012, 12:28 AM UTC

100k wrote: post #38

arbuge wrote: post #19

Aside: There seems to be a strange (one-way) attraction between creditors and sailing ships these days. Another example: http://en.wikipedia.org/wiki/Sedov "Sedov has regularly been targeted by unpaid creditors of the Russian Federation such as Nissim Gaon (of now defunct Swiss group NOGA, an anagram of Gaon) and also by French holders of defaulted Russian bonds; in 2002 Sedov was forced to precipitously and unexpect…

I was curious AFBER because of the Russian Empire thing. It is indeed the association of holders of Tsarist Russian bonds. They are trying to get paid back two successor governments and 100 years later.

Post by arbuge » Wed, Oct 10, 2012, 8:15 PM UTC

jonnii wrote: post #35

arbuge wrote: post #7

Earlier quoted context omitted.

No. Elliott capital does not work this way. Google them. They don't go long on anything. They buy debt from funds that did for pennies on the dollar when it doesn't look like that debt will be repaid. They then try to collect on it aggressively and turn a handsome profit in most cases. It's been a very successful strategy for them - that's how their founder is now a billionaire.

Unless you work for Elliott Management you know nothing about their investment strategy, other than it makes profit.