Hedge fund mogul stands to make over 1,600% return

Pot Of Gold

Hedge-fund mogul Paul Singer, after an 11-year battle to collect on defaulted Argentine bonds — a fight that included three huge legal victories and a global hunt for assets — stands weeks away from possibly collecting $832m on an estimated $48m investment.

The New York Post reports that’s a 1,608% return — a huge payday, to be sure, but not even the biggest in Singer’s 37-year career.

It’s the kind of investment acumen that has helped Singer’s $23m Elliott Management post an annualized return of 14% since 1977 — outpacing the 11.3% return for the S&P 500 during that time.

As if that weren’t enough for the 69-year-old investor, the Argentine investment could ultimately bring Elliott $3bn if he is paid every cent he claims he is owed, according to Argentina.

The victory over Argentina that Singer stands to realize further validates a business strategy that has been widely disparaged as 'vulture investing' — picking at the carcasses of bankrupt companies or countries in default by buying their bonds for pennies on the dollar and then litigating for profit.

To access the complete New York Post article hit the link below

Hedgie Paul Singer’s ‘vulture investing’ paid off royally

Odds of another recession are greater today than ever before

Bank Workers CharityBank Workers Charity - Supporting bank workers

Register for Financial Markets News Alerts