Argentina: Two Years of Living and Investing Here, an Update
06.2024
Argentina two years on — nothing has changed, and that's wonderful
Nothing has changed on the big picture level, come on over! The same easy legalization, the same strong passport — 11th strongest in the world, the same relentlessly sluggish bureaucracy (do not attempt this at home without professional stunt doubles). The same friendly society, tolerant of every race, nationality, and form of self-expression. The unique nature hasn't gone anywhere! Mountains, volcanoes, glaciers, waterfalls — all still there. The whales raised their calves and swam off into the ocean, but they'll be back by spring. The climate hasn't gotten worse, and Buenos Aires is as beautiful as ever, still delighting everyone with its exhibitions and music festivals.
Prices have gone up, but they're still a joke
Yes, steak isn't what it used to be: instead of $10 for half a kilo, it's now $20. Horrifying. And a nanny/housekeeper/gardener no longer costs $2 an hour — now it's a whole $3. Outrageous.
What's new is only good (and a little scandalous)
What's new is only good — a fun, flamboyant president who makes out with porn stars on stage, takes selfies with Elon Musk, and is on the verge of steering the economy toward capitalism.
What's changed in the economy and investments
Some pleasant facts:
- My portfolio of Argentine stocks grew 53% in dollar terms over six months (hi, skeptics)
- Banks now offer dollar and crypto transactions with no limits
- Contracts can now be denominated in any currency, even in meme coins
- The national currency has strengthened, and inflation has slowed considerably
What we're waiting for, and what makes us happy every week
We're waiting for lower customs duties and rising real estate prices, and every week we get a new meme to enjoy.
P.S. I even learned Spanish — so can you
So why does everyone keep complaining about Argentina?