Apr

29

 It's been a while since Greek banks have been in the news, and Greece remains in a depression. Some may remember the economic mess Greece was earlier in the decade, and its banks reflected that mess. Let's just say those banks were not the best of investment choices for the time since.

Cut to 2018. Is it time to think of Greek banks as investable? I posed this question to a few friends and received some interesting answers, including that I might want to consider investing in Sears instead, that Spanish banks might be of greater interest (not until the Catalan situation clarifies—I doubt that it will be successful in seceding, but it will be at least a distraction), Italian banks might other better risk-reward, and the question of why banks.

So I put the question to the list: What think you of Greek banks as current investments? The blood's run in the streets and is slowly being cleaned up. Is this the time, or is it a matter of waiting a few years more?


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  1. Edward Lam on April 30, 2018 6:14 am

    I have followed the Greek Banks since 2012 and I would say yes.

    2012 - 2016 I thought they remained uninvestable. Some of the conversations I had at the time with management and analysts were quite amusing. But provisioning and other things have run far enough where I think there is a fair case for them.

    Whilst I am tentative in my conclusion, I have put my money where my mouth is (the funds I run now have a position in greek banks). It is higher risk than we are usually comfortable with and there could be a little reputational risk if I am completely wrong.

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