In Talks With: Matías Waitzel - Founder of AT Inversiones

In this edition of In Talks With, we spoke with Matías Waitzel, Managing Partner at AT Inversiones, to explore his professional journey, the philosophy behind the firm, and his perspective on Argentina’s evolving economic landscape and investment potential.

Matías’ path into finance began while studying Business Administration at UADE. A family tradition of investing in the capital markets had already sparked his curiosity, but it was his first finance-related course—financial calculus—that made everything click. “I realized this was something I really loved,” he shared. After graduating, he completed specialized courses and postgraduate programs in capital markets and eventually became a licensed broker.

A key figure in his career was Juan Ignacio Abuchdid, founder of Invertir en Bolsa, whom Matías met through tennis. “I always asked him about the market, and despite the age difference, he always took the time to answer me,” he recalled. It was Abuchdid who encouraged him to become a broker and opened the door to his first professional opportunity in the industry — a gesture Matías remains deeply grateful for.

A Personal Approach to Wealth Management

AT Inversiones has more than 15 years of experience and a broad portfolio under management. Matías defines the company’s philosophy with clarity: preserving and growing clients’ capital. Their approach is highly personalized, working with both individuals and companies — from small businesses to large corporations.

“What sets us apart is the level of personal connection we build with each client,” he explained. “We constantly meet with them, adjust portfolios together, and rely on feedback. Clients stay with us for years — it becomes a long-term relationship built on trust.”

AT Inversiones also works with multiple brokerage firms rather than depending on a single market view, allowing them to combine diverse analyses with their own expertise for more comprehensive advisory.

Argentina’s New Economic Landscape

Discussing Argentina’s current macroeconomic shift, Matías highlighted what he considers the country’s new “anchors.” He emphasized that these pillars are essential to rebuild confidence, attract investment, and create a more predictable economic environment. Each anchor plays a different but complementary role in stabilizing the economy:

• Fiscal surplus: Argentina is now operating with a fiscal surplus — a major structural shift. Sustained surplus reduces borrowing needs and signals financial discipline.
• Inflation control: Monthly inflation has slowed to around 2%, a dramatic shift from recent years. While challenges remain, the trend shows clear stabilization.
• Exchange rate stability: A more predictable currency simplifies planning, cost forecasting, and risk evaluation, especially for businesses with international exposure.
• Clear regulatory and political frameworks: Transparent rules and consistent policies are essential for long-term investment, particularly in energy, technology, infrastructure, and mining.

Among the sectors showing strongest growth is oil & gas, particularly activity in Vaca Muerta. Meanwhile, industries previously supported by protectionist measures — such as textiles — face increasing challenges.

Looking ahead, Matías sees Argentina shifting firmly toward an export-driven model powered by agriculture, energy, and mining.

He also noted strong investment tools for companies managing treasury operations: Lecaps, Bonos CER, and money market alternatives outperforming traditional fixed-term deposits. Financing conditions have improved as well, with discounted checks at ~22% annually. He highlighted a record month in international debt issuance: “More than USD 4 billion in negotiable obligations were placed abroad at rates around 8% — a great sign for companies seeking capital.”

What Foreign Investors Should Know

For U.S. and global investors, Matías outlined several key considerations shaping Argentina’s investment outlook:

• Political continuity beyond 2027 is crucial for long-term planning.
• Tax reform is necessary to address distortions such as gross income and debit/credit taxes.
• Labor reforms enabling more flexible hiring are essential for productivity and employment growth.

Despite these challenges, Matías was clear: “Argentina is a land of opportunity.” While oil & gas is maturing, mining remains practically untouched, with extraordinary potential in lithium, copper, and critical minerals.

AT Inversiones’ partnerships with brokerage firms in Argentina and the U.S. allow clients to access global markets, where diversification remains essential. He also noted growing U.S. interest in energy, mining, agriculture, and food sectors through increasing inquiries within business networks and chambers.

Given Texas’ leading role in energy and innovation, Matías underscored the strategic importance of the bridge the ATCC helps build: “Texas has the knowledge and expertise; Argentina has the potential. The synergy is enormous. The Chamber’s role in connecting both sides is essential.”

A Final Message to ATCC Members

Matías closed with: “Count on us for anything you need — managing treasury operations, exploring financing options, or structuring capital market solutions. Oil and gas projects require significant capital, and today Argentina offers great conditions to raise it, both locally and internationally. We’re here to help anyone who needs support.”

His perspective captures a pivotal moment for Argentina — one defined by renewed stability, emerging opportunities, and the growing connection between local potential and global capital. His insights offer valuable guidance for investors, executives, and organizations seeking to participate in the country’s next chapter of growth.