Cresud is certainly a name that I want to own again, but I'm not sure how the latest moves by the Argentine government might affect the stock. There's been little, if any reaction so far. I'm just hesitant to purchase an agriculture name in a country that is attempting to artificially control food prices; at least not without a large margin of safety.
I don't believe any good will come of Argentina's latest attempt to "control" inflation.
We've tried it here; President Nixon imposed wage and price controls in 1971 to combat inflation. It was a failure of epic proportions.
Stay tuned.At the time of publication the author is long Dell. Follow @JonMHellerCFA This article is commentary by an independent contributor, separate from TheStreet's regular news coverage.