Hedge Funds Notch Big "Win" In Argentina As Precedents Being Set

A significant chapter in hedge fund history – perhaps the oddest, but also the most precedent setting – appears to be drawing to a close. As Argentina's 50-year old wunderkind finance minister, former JPMorgan banker Alfonso Pratt Gay, appears to have tamed the hedge fund monsters demanding payment on its foreign debt, a clear victory for the hedge funds is at hand – one that is already altering future courses of action.

Vulture hedge funds have won in Argentina, claims hedge fund opponent

“They won,” proclaimed a concerned Eric LeCompte, a U.N. sovereign debt expert and executive director of...