Argentina’s currency lost a quarter of its value in one day earlier this month…

And that’s a good thing.

How could that be a good thing? Here’s how…

Argentina’s new President Mauricio Macri said he would make massive free-market changes in the country – including lifting the government controls on the currency – to attract investors and to kick-start the economy.

[ad#Google Adsense 336×280-IA]He has lived up to those promises… In his first two weeks as the country’s leader, he has removed most agricultural export taxes, cut personal income taxes, and eliminated farming quotas.

“It’s necessary to remove all current conditions that go against transparency, simplicity, openness and reason,” the government said this week.

This is actually exciting stuff…

It could be the start of a major turnaround in one of my favorite places on the planet.

Nobody in the investment world is paying attention to Argentina today – and that’s something I like to see.

Meanwhile, you have new political leaders in place that have the strength to sacrifice a major short-term loss for a long-term gain. I’m not sure we have any U.S. politicians that would be willing to sacrifice 25% of the people’s savings overnight to make things better over the long run.

Buenos Aires, if you don’t know, is truly the Paris of the Americas. Bariloche is an undiscovered gem and one of my favorite places to visit. And Cafayate is a little oasis of perfection. I could go on – I love Argentina.

Throughout history, the country has been blessed with great lands… and cursed with terrible politics. The result of poor political policies is clear: Argentina was the picture of success in 1910 – one of the world’s top-10 largest economies. Over the last hundred years, it has fallen to 55th on the list – an incredible fall.

The new president is quickly undoing the policies of his predecessor, attempting to reshape Argentina into a more free-market country.

I am hopeful… both as a person who loves Argentina, and as an investor…

You see, often when an emerging-market country makes free-market changes like these, the stock market can rise hundreds of percent. So hopefully, they’ll stick.

The simplest way to own Argentina is through the Global X MSCI Argentina Fund (ARGT).

As I write, this fund is still bouncing along near its 2012 bottom. There are no signs of life in Argentine stocks yet. But I suspect there will be. I look forward to seeing an uptrend in shares of ARGT.

Keep an eye on Argentina, and ARGT, in 2016. I know I will…

Good investing,

Steve

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Source: Daily Wealth