market folly

Zach Schreiber's hedge fund firm PointState Capital has filed a 13G with the SEC regarding shares of Grupo Supervielle S.A. (SUPV).  Per the filing, PointState now owns 6.3% of the company with 3 million American Depositary Receipt (ADR) shares, which is equivalent to 15 million Class B shares.

The filing was made due to activity on May 19th as the company just completed its initial public offering (IPO). 

For more from this manager, Schreiber recently gave investment ideas at the Sohn Conference in New York.

Per Google Finance, Grupo Supervielle is "an Argentina-based holding company primarily engaged in the financial sector. The Company provides services through numerous subsidiaries, such as Banco Supervielle SA, that offers bank services, mainly to individuals and commercial customers; Cordial Compania Financiera SA, which focuses on credit card issuing, as well as providing consumer loans and insurance for Wal-Mart Argentina customers; Tarjeta Automatica SA, which issues and administrates credit cards; Cordial Microfinanzas SA, that offers financing for urban micro-enterprises; Supervielle Seguros SA, which sells insurance products; Supervielle Asset Management Sociedad Gerente de FCI SA, which manages investment funds, and Espacio Cordial Servicios SA, that distributes audio and video equipment, computers, home appliance and air conditioning units, among others. The Company operates in the domestic market. ."