|Written by GSCR Staff|
|Thursday, 14 June 2012 09:58|
The biggest mover on the NYSE is none other than the National Bank of Greece S.A. (NYSE – NBG -$1.59). Clearly, investors are speculating that funds received in the recent bailout are offsetting the present run on withdrawals by accountholders. Furthermore, it looks like whichever Greece turns as it relates to its upcoming elections, the euro and the EU in general, these speculators believe that NBG will benefit.
While we always seek to identify an opportunity to turn a profit, I am no prophet. Therefore, I have no clue how this thing will turn out. It could collapse next week or double. From the outside looking in, this looks like a pure gamble, rather than a measured bet. Frankly, I’d rather bet the NBA Finals tonight since OK City is giving 5 ½ points.
I could be totally wrong but since we cannot predict the political future or economic policy here I would stay away. There are plenty of other opportunities out there where the risk/reward is better. The symbol NBG may stand for National Bank of Greece but I refer to it as “Not Buying Greece.”
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