Elliott's winners and losers: Greece up, gold down


What Paul Singer's firm profited from in the fourth quarter; Argentina and Les Miserables developing.

Paul Singer's $21.1 billion Elliott Management Corporation rode winning investments in Lehman Brothers claims, Greek bonds, mortgage backed securities and more to a 3.3% fourth quarter gain in its flagship Elliott Associates fund, according to a letter sent to investors January 28.
The verdict on holdings of Argentinean debt bonds--Elliott's most high profile position--is still unclear. The country's government has refused to pay despite court rulings in Elliott's favor. "The lesson is painfully obvious: the inexhaustible disregard for the rule of law by the political class has cost the Republic, its provinces and local businesses tens of billions of