Thinks there will be a National Bank of Greece in a couple of years. The share count has gone to mega billions, a huge amount of dilution, which makes it difficult. The Greek economy will come back, but all the banks are in a very dangerous position. This is a crapshoot. You might want to look at Global X Greece ETF (GREK-N) instead.
For people who want to take on a lot of risks and who want to play he can see them going into this. It is on his radar screen. It is going to be very difficult for people to make money on this, unless they are traders, which he is not. Greece is going to exist in 5, 10, 25 years, but which companies might disappear and which ones will survive and possibly bloom?
He would encourage people to really think about what kind of stocks they want to invest in. He always very deliberately look for lower volatility type of stocks, and ones that can still demonstrate growth in earnings and in dividends. This bank is almost the opposite of that. Its major business right now is keeping hold of its deposit base. If it doesn’t do that, there is no business. You are going to have very little growth and a tremendous amount of volatility, the worst of both worlds.
This is going like crazy right now with the new government in Greece. The government may be coming to some realization that they have to come to some negotiation here. As an investment, this is high risk, but could be a risk worth taking. One of the biggest problems is their share count, which is over 3 billion shares. For the stock to go up a lot, that share, will impinge on the bank. If you want to take a flyer, this could be a good one to take.
Greece is technically finally out of recession. He continues to watch it. Their share count has gone up monstrously. There is a political question in Greece. There is some possibility of a reverse stock split. He cannot see this bank going under. It could go up two or three times, but it is fairly high risk.
This was on his Stock Watch list, but he eliminated it in the last couple of days. Often the reasons to Buy are less interesting than the reasons to Not Buy. The primary reason he decided against this was that the growth in the share count has just gone ballistic from about 200 million to about 200 billion. That is a huge increase and that is scary. There are better opportunities elsewhere.
National Bank of Greece SA is a OTC stock, trading under the symbol NBG-N on the (). It is usually referred to as or NBG-N
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In the last year, there was no coverage of National Bank of Greece SA published on Stockchase.
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The number of shares is absolutely insane. The share count has grown dramatically. They’ve been in survival mode for quite a while, but thinks they will survive. It wouldn’t surprise him if they did a share consolidation. Share consolidations are virtually always bad for stocks. A speculative play, but it could be good. Doesn’t think you will lose all your money. He doesn’t see putting dollars on it at this time.