In conversation with Channel EEconomist and director of Bell Investment Company, Emilie CordobaHe analyzed the current calm of the stock market and predicted that Argentine stocks will remain the most attractive assets for investors.
A market without parties, but with opportunities
The specialist defined the current moment in clear terms: “No party, but no hangover either“, pointing out that”The height starts to run out“After weeks of strong increases,” he explained,The local market has depreciated all exchange rates, both MEP and CABLE, generating increases and decreases between peso and dollar bonds.“.
to CordobaThe international trend also affects: “The foreign market is waiting for the US government to act again. Value havens like gold barely rose, while technology companies showed slight declines“, detailed.
When investing, the economist recommended caution: “You should not buy when everything is too high, but when the market is calm or showing signs of rising again.“In this sense, he highlighted that the current context provides an ideal pause for assembling medium-term portfolios.
Argentine stocks: focus of upcoming increases
Cordoba He declared that “traditional”Christmas gathering“I’ve already started:”The Christmas rally is coming, but not with the exaggerated increases of recent weeks.He pointed out. However, he warned investors that they should be cautious: “You have to look at the market day by day so that you are not left out at the end of the rally“.
Regarding returns, he was optimistic: “The Merval certainly beats the reference price. The most we can speculate on in the short term are Argentine stocksHe confirmed.
Regarding the dollar, he considered that “The exchange rate will continue to fall, but not much more“, and “By the end of the year we can think of the dollar at 1300 or something like that“In addition, he highlighted the importance of political stability:”Time is needed to consolidate this new image of the president, with a dialogue and consensual orientation. This is achieved with time and consistency.“.
Regarding the investment, the director of Bell Investments was categorical: “Today the attraction is in stocks. If you already have CERs, keep them, but I’m not a buyer“.
When asked what assets she would put herself in, she said: “You almost can’t go wrong with the vast majority of Argentine stocks. You will maintain it in the medium term, because until next year there will be no major political ups and downs“.
Cordoba Companies mentioned with high potential: “San Miguel is a high possibility: it is 90% below the maximum, and is solid and solvent“, adding that”Argentina’s core also has a chance to recover, but in the long term, two to three years“.
Finally, he evaluated the year: “We do a good job with almost any asset. We finished a very positive year and are heading towards a more moderate and stable market in 2026“, he concluded.
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