Greek banks, the subject of long interest from the likes of hedge fund managers David Einhorn, Seth Klarman, Prem Watsa and John Paulson, now have “attractive valuations” amid a recovering Greek economy says equity research from Euroxx Securities. “Grecovery” is real, say analysts On May 19 the firm upgraded its view on the sector to overweight, citing the “Grecovery and beyond.” Specifically the research report recommended Alpha Bank A.E. (ADR) (OTCMKTS:ALBKY), National Bank of Greece (ADR) (NYSE:NBG) and Piraeus Bank SA (OTCMKTS:BPIRY) due to “increased visibility” into the Mediterranean country’s recovery, the successful recapitalization of the banks from the private sector,…
Greek Banks Get Upgrade As Big Hedge Funds Pile In
Mark Melin
Mark Melin is an alternative investment practitioner whose specialty is recognizing the impact of beta market environment on a technical trading strategy. A portfolio and industry consultant, wrote or edited three books including High Performance Managed Futures (Wiley 2010) and The Chicago Board of Trade’s Handbook of Futures and Options (McGraw-Hill 2008) and taught a course at Northwestern University's executive education program.