Mobius warms to Greece


"You can see finally that Greece is coming back with new ideas," says Mobius after putting his boots on the ground there. "The privatization program is going forward despite opposition from unions. Things aren’t easy but they are making progress."

The downgrade of Greece to emerging market status is - in Mobius' mind - an upgrade to a club of high-growth countries.

Mobius is particularly interested in the banks, but is looking at a wide range of sectors. Athens is up about 50% since July, but remains 75% below the 2008 peak. He expects to own shares in the country within the year, "provided prices don't go through the roof."

Greece ETF: GREK.

National Bank of Greece: NBG.

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Comments (3)
  • DeepValueLover
    , contributor
    Comments (11220) | Send Message
     
    (NBG) has been a turbocharged rocket ship to the sun since summertime...check out the gains.

     

    But how far will she go before the euphoria dissipates?
    21 Oct 2013, 04:35 PM Reply Like
  • GreeceMonkey
    , contributor
    Comments (8) | Send Message
     
    I'm guessing this rocket's got more fuel to burn in the short term. This could change in the face of terribly bad news, but it's beginning to look like the worst is finally behind NBG. Don't get me wrong - conditions are still far from pretty over there. But I believe we have, at the very least, reached a point where we can say it not getting worse. As such, I don't expect the extreme plummet like what happened when NBG took off this past May. (I also would not expect the rocket to climb quite so high so fast time either!).
    21 Oct 2013, 10:13 PM Reply Like
  • designshoe
    , contributor
    Comments (944) | Send Message
     
    Go GREK!
    22 Oct 2013, 01:00 AM Reply Like
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