When investors look back to consider the best trades of 2006, high on their list should be Argentina’s GDP warrants. The securities, which were created as part of the sovereign’s debt restructuring in June 2005, returned a startling 150% in the first 11 months of 2006, spurred by the Argentine economy’s boisterous performance.
The warrants are trading at just above 13 cents, having begun 2006 at below 5 cents. The last quarter of the year, in particular, saw...
