Tragedy to Triumph? – The Greek Banks

Featuring Mark Yusko

Greece was hardest hit by the European Debt Crisis, but eight years on, there’s an opportunity in the banking sector, as the economy shows signs of life. As some of the biggest US hedge funds move on the sector, Mark Yusko speaks to the analysts that know the Greek banks better than anyone and assesses the risks for what could be the big trade for 2018.

Published on
13 November, 2017
Topic
Europe, Financial System, Macro
Duration
39 minutes
Asset class
Equities, Bonds/Rates/Credit
Rating
59

Comments

  • KE

    Kenan E.

    25 11 2017 19:20

    1       0

    Remember - there are very few things in this world which are as screwed up as greece.

  • NK

    Nikos K.

    21 11 2017 15:49

    0       1

    very superficial coverage of the situation , simply because the "other side" was not presented in the interviews. As a general comment, regarding the specific investment opportunity, i can only say that investing in countries ruled by authoritarian governments the end game is strictly binary....either zero or 10x. However, Greece is part of the EZ , so 10x is out of questions at this point.

  • OB

    Olivier B.

    21 11 2017 02:16

    0       0

    I missed no mention to the political framework. Should Mitsotakis rise to power, GREK would fly.

  • VP

    Vincent P.

    20 11 2017 16:06

    1       0

    Add GREK to the "Great Experiment" portfolio :)

  • VM

    Vinnie M.

    18 11 2017 17:36

    2       2

    There all crooks none pays taxes and its a pig with lipstick.

  • SB

    S. B.

    18 11 2017 11:37

    0       0

    And is GREK a good investment vehicle?

  • MZ

    Michael Z.

    17 11 2017 01:13

    0       0

    lkuuuuuu

  • tw

    tam w.

    16 11 2017 22:07

    0       0

    Pure gambling for anyone but the insiders.

  • JW

    Joakim W.

    15 11 2017 06:34

    2       0

    Great video. Always nice with a multitude of views and takes on the same topic.

  • NA

    Naiem A.

    14 11 2017 21:21

    2       3

    How many more years will they try austerity? to these economists the bloodletting must continue until reality conforms to their theories. In the mean time Greece is being depopulated of its able bodied workers, leaving only the old to suffer further cuts. yeah great recipe for recovery!

  • SD

    S D.

    14 11 2017 17:58

    15       5

    Look at the price Greece has paid for refusing Grexit.
    Which Western country has attained 3.5 percent annual GDP growth for five consecutive years in recent history?
    This is a contemporary Holocaust, a population decline from 17 million to 11 million over just 13 years, directly attributable to economic conditions imposed by a dominant creditor state.
    The UK is foolish to ignore this lesson, and persist with negotiations with a party that is clearly incapable of operating in good faith.
    The UK should pursue aggressively a hard Brexit, partly to enable a more equitable negotiating position for Greece and the other impoverished second tier EU states.

  • JM

    Jason M.

    14 11 2017 15:41

    13       1

    When you are socialist, things generally keep getting worse until you are not a socialist. Has Greece renounced socialism? Not yet...

  • AC

    Andy C.

    14 11 2017 07:55

    0       0

    Mark is my favorite. Mark would be a great teacher. Thank you.

  • SR

    Steve R.

    14 11 2017 07:52

    1       0

    Greece maybe a good opportunity in the future, but (IMHO) the risks favour waiting until some of the issues highlighted have been resolved, particularly the bank stress tests and the possible 4th restructuring. Whilst greek banks may look 'cheap' I get the feeling they will get cheaper still before the tide eventually turns. If you look at the charts (of the 4 mentioned banks) it appears they've all rolled over and heading lower.

  • dj

    daniel j.

    14 11 2017 07:20

    1       0

    I’m surprised the Hellenic security fund was not discussed and the potentiual opportunity of Grexit. Otherwise Great. This is something everyone though investigate and look into if they consider if they want to purchasing these stocks and are allocate a probability of a potential Grexit down the road.

  • TS

    Todd S.

    14 11 2017 01:46

    3       1

    Great job Mark! Greece was no where on my radar but its worth a look. Well done

  • SD

    S D.

    14 11 2017 01:41

    12       5

    Nice overview.
    What has happened in Greece is offensive. It amounts to economic war upon the cradle of Western civilisation.
    The youth of that country, and thus the country's future, has been terminally compromised by unelected and unaccountable EU officials acting on behalf of corrupt and incompetent German banks.
    Look and learn. Today Greece, tomorrow ....???
    The Greeks won't forget this. Nor should they.

  • SP

    Steve P.

    13 11 2017 20:17

    9       3

    Very interesting catch up on the Greek situation. Great coverage RV as it presents a good overall picture of the ongoing Greek dilemma -a culture that needs dramatic change to allow economic advancement. The Chinese have seen the long term opportunity and are exploiting it. That may or may not mean less well healed investors have the same opportunities. Still more speculation than investing involved in Greece at the moment.

  • PB

    Pieter B.

    13 11 2017 18:46

    2       1

    Excellent content! Thanks a lot!

  • KT

    Ken T.

    13 11 2017 17:26

    16       0

    A very good episode. And Mark did an excellent job hosting it. He told us what we were going to hear, reminded us of what we heard and summarized the presenters conclusions.

  • LR

    Larry R.

    13 11 2017 16:51

    11       0

    Still seems too early. Greece has been living far above its means for 40 years. This is the fundamental reason they are in trouble. They have not really addressed this. There will be no real turn for the better until this is addressed. Former central banker's comments make this clear. Sounds like bank balance sheets are still full of rubbish and accounting tricks.
    Are there some very specific plays possible? Yes, but only if you have a very good micro level of knowledge in that specific area.

  • IH

    Iain H.

    13 11 2017 16:41

    9       0

    A very balanced piece. More like this thanks. Oh and no hype!!! Perfect!

  • JG

    John G.

    13 11 2017 16:00

    3       0

    Well done. I hope we see more about Greece from RV.

  • JH

    Jesse H.

    13 11 2017 13:17

    5       0

    Thanks, RV - balanced, data-driven take on the situation in Greece. More of this please : )

  • JC

    Joseph C.

    13 11 2017 12:50

    5       0

    If i were Greek why would I put mony in a Greek Bank?

  • PU

    Peter U.

    13 11 2017 11:12

    42       1

    I found this interview balanced. . . presenting both the bull and bear case. Well done.