Paulson buys Greece (Klarman too)


Funds run by John Paulson have joined those of Baupost, Eaglevale, Falcon Edge, York Capital, and Och-Ziff in investing in the recapitalized Greek banking sector, reports the FT.

"We think Piraeus (BPIRY.PK) and Alpha (ALBKY.PK +12.9%), two banks we have a position in, are now very well capitalized and poised to recover," says Paulson in a statement. Encouraged by rising exports and a rebounding tourist sector, Paulson expects the economy to bottom this year and begin recovery in 2014.

Also among those recapitalized by the Hellenic Financial Stability Fund is National Bank of Greece (NBG +12.9%). The Greek ETF (GREK +3.3%).

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Comments (5)
  • jsIRA
    , contributor
    Comments (4099) | Send Message
     
    I have been patiently holding NBG and it paid off. Up almost 100% from my second buy.
    7 Oct 2013, 01:32 PM Reply Like
  • Derek A. Barrett
    , contributor
    Comments (3554) | Send Message
     
    Nice work, that was high risk grats the big return you deserve for holding steady when everyone else was panicking
    7 Oct 2013, 03:05 PM Reply Like
  • TruffelPig
    , contributor
    Comments (4204) | Send Message
     
    Congrats! Agree with Derek - well deserved!
    7 Oct 2013, 05:19 PM Reply Like
  • taharqa11
    , contributor
    Comments (62) | Send Message
     
    My IRA is up 30% this year alone excluding contributions, and I was only invested 50--60% in equities. Invested almost exclusively Europe since the beginning of the year (SAN, NBG, RBS, IRE, GREK, ALU, NOK). If I don't get stupid (a distinct possibility) it's one less year I have to work in the future. Hooray for the PIIGS!!!
    7 Oct 2013, 04:09 PM Reply Like
  • Chirag Odhav
    , contributor
    Comments (7) | Send Message
     
    Which brokerage firms allow the purchase of Alpha and Piraeus warrants?
    24 Dec 2014, 12:56 AM Reply Like
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