The local financial landscape changed significantly after the election. he Fiscal dollar The currency moved within a more stable range, near $1,450-$1,500, flattening distortions that had built up in recent months. Inflation in October reached 2.3% per month and the central bank (BCRA) was able to move forward with a lower interest rate level.
This narrative led to a rearrangement of expectations and opened a different phase, although it is still far from final normalization.
Reports from city greats, such as Balance, Alaria, Parrot, and Facemix They point out a common point. The CER curve has regained its prominence because prices are advancing more slowly, but not enough to justify leaving out inflation adjustment. The binary continues to be a key tool for hedging against potential interest rate movements. Dollar bonds gained attractiveness as country risks decreased. CEDEARs remain the most effective way to add international growth.
In this context, these are the three complete distribution strategies $1,000,000 According to each profile.
Conservative profile: priority in capital protection
The goal of this portfolio is to preserve capital, “sleep peacefully” and continue earning in real terms. The structure is based on instruments that respond well to inflation, a frequent risk in Argentina.
The heart of this wallet is $500,000 certified emission reduction bonds, Divided between TZX26 and TZXD5. The TZX26 has the ability to improve the price if real prices continue to decline. The TZXD5 provides stability, since part of its CER modulation is practically locked and acts as a LECAP that performs more. As for the numbers, the latter is more clear
- T15D5: LECAP expiring 12/15/25 yields 25% TNA
- TZXD5: CER bonds that also expire on 12/15/25 yield 27% TNA
The second tranche of this $1 million portfolio is $250,000 in short binaries, to be exact TTM26. It acts as insurance against potential movements in the wholesale interest rate (TAMAR). In a context where the band chart remains controversial, these bonuses are a key tool for avoiding surprises.
The third item is $150,000 Dollar bonds Specifically the AL30. The goal is not to maximize performance, but to balance the portfolio with an instrument that will withstand any exchange rate shock. This instrument, in addition to providing coverage against the dollar, today yields approximately 11% in hard currency.
The final tranche was completed at $100,000 Cedars Defensive companies like Medtronic, Procter & Gamble, and VALE. They are stable international companies, with strong balance sheets and low volatility, and are ideal for the investor who prioritizes peace of mind.
Moderate profile: more yield without falling into excess
The moderate investor seeks a more ambitious – and difficult – balance to achieve. He wants to overcome economic inflation, Exploit opportunities, diversify risks, and accept reasonable fluctuations. In this profile, Argentine stocks again appear as a piece to improve performance without maximizing portfolio risk.
The first block focuses on $350,000 in B.Conos Certified Emission Reduction, Split between TZX26 and TZXO6. TZXO6 adds a longer duration that could enhance gains if real prices continue to decline. The TZX26 serves as a classic in the CER world, with solid performance and limited risk.
The second tier is $200,000 in binaries between TTJ26 and TTS26. In the scenario where inflation and… interest rate As we continue to adapt, these connections act as a natural buffer against both movements.
he Part Three It is backed by dollar bonds worth $200,000, ranging between 35 and 30 dinars. GD35 is most sensitive to improvements in country risk. In the face of Argentina’s eventual exit from the market, the price for these latest bonds is that they have “everything to gain” without taking on excessive duration risk.
In the international segment, $200,000 is added to CEDEARs from recognized companies: Mercado Libre, Meta, Chevron, Tesla and Adobe. This selection covers technology, digital consumption, energy and software, sectors that provide growth and are less dependent on the domestic cycle.
This portfolio includes $100,000 worth of Argentine stocks, which is a fairly moderate but relevant ratio. The most frequent selection in city reports distributes $50,000 in BBVA Argentina and $50,000 in Pampa Energy.
BBVA is left with very low dollar valuations and could react if credit expands again. Pampa is one of the strongest companies in Argentina, with a diversified business and good operational management. This small local portion adds strength without raising the overall risk too much.
The result is a balanced portfolio, with drivers Peso, dollar and global marketsCombined with a local dose that could provide additional revenue if economic conditions improve.
Aggressive Profile: Maximum performance with volatility
The aggressive investor wants the highest possible return and is willing to forgive Higher volatility. This strategy includes long-term assets – bonds with a long maturity – strong international exposure and a strong block of Argentine stocks. The logic behind this $1 million portfolio is: If macro normalization progresses and country risks continue to decline, these assets will be quickly revalued.
The first block is $250,000 in long CERs, spread between TZX28 and TZX27. These bonds react strongly to falling real interest rates and are ideal for this profile.
Part 2 combines $100,000 between Boncap T30E6 and TZV26, The dollar is linked. Boncap currency becomes more attractive as interest rates fall, while the pegged dollar protects against exchange seasonality that usually appears in the summer.
The dollar leg is the largest, at $300,000 between the AL41, GD35 and AE38. All three leaves have a high sensitivity to falling Country danger It could amplify gains if the Argentine market continues to return to normal.
At the international level, Cedars They received $250,000 distributed among Nvidia, Tesla, MercadoLibre, Palantir, Meta, and Vista Energy. They are the companies that lead the high-growth technology and digital sectors. Its volatility is high, but its upside potential is also high.
The view is Great local bet Thanks to its rapid growth and export profile
The most distinguished part of this portfolio is concentrated in Argentine stocks worth $200,000. City He proposes a combination of energy, banking and vaca muerta. Features an exemplary cast
- 50,000 USD to YPF (YPFD)
- 50.000 USD to Grupo Financiero Galicia (GGAL)
- $30,000 to Pampa Energia (PAMP)
- 30,000 USD to BBVA Argentina (BBAR)
- $20,000 to Transportadora de Gas del Sur (TGSU2)
- 20,000 USD to Edenor (EDN)
Bamba keeps A Versatile and efficient structure. Galicia has room for recovery if activity stabilizes and credit begins to return to normal. This local block acts as an accelerator for the overall performance.
the Aggressive wallet It is the one that can rise the most if the macro supports it. He is also the one who can swing the most. It is designed for investors with a long horizon and real risk tolerance.
The key is in balance
The market has proven once again that no asset alone guarantees anything. the Calm dollar It can last for a month or evaporate in an afternoon and falling interest rates open up opportunities while forcing the entire portfolio to recalibrate.
In this context, City He left a simple but firm message: the only way to protect capital, while opening the door to real profits, was to combine inflation, the dollar, international growth and Argentine stocks that were lagging behind. Fairly cheap.
Portfolios that mix CERs, binaries, and dollar bonds, Cedars A block of local stocks becomes the new norm. Not because they are infallible, but because they are the only ones who resist any development at the macro level.
The investor who Diversify smartly You can preserve your capital – and see it grow – without getting caught in any risk.
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