The name Paul Singer might not be familiar to many people, but you probably heard of Argentina defaulting (again) somewhere in the news in 2014. Paul Singer is a founder and president of Elliott Management Corporation and has been managing money for 38 years. Paul Singer is one the bond holdout that refused a new deal when Argentina defaulted for almost $100 million in 2002. He bought the bonds when they were really cheap in 2008 and the face value of those bonds has exploded since. Him and a few others demand repayment in full, and held out for full repayment, eventually winning their case. But Argentina still refuses to pay him. He has seized an Argentinian vessel and attempted to seize the presidential plane. It’s a fascinating story to read and there’s a lot to learn about sovereign bonds and default.
I don’t think he does a lot of public speaking since he’s known for being extremely private, that’s why it’s also to hear his take on the economy and his point of view on investing in defaulted Argentinian bonds. He thought that the original restructuring offer was a terrible offer and he’s fighting for a fair deal. This was published by the
New-York Times on December 12, 2014.
Looking Ahead to 2015 and Risks to the World Economy