Another greek dilemma: should I buy stocks listed at "Athens Stock Exchange" when there is blood on the streets ?

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dchrys's picture
dchrys
Status: Member (Offline)
Joined: Jan 6 2009
Posts: 20
Another greek dilemma: should I buy stocks listed at "Athens Stock Exchange" when there is blood on the streets ?

Dear CM followers,

as a greek adult, I have witnessed the crisis unfolding from the front seat of the debt vehicle. Me and my family are not affected for the time being, also because of  the insight shared in this site. The local stock market (Athens Stock Exchange) is at 15-year low, and yesterday it fell bellow the barrier of 1000 points (950 as I am writing this). I am wondering whether it is a good time to buy stocks now (which I haven't done in my life so far), targeting companies that can provide some long term value and possibly dividends. Local banks and other financial institutions may go belly-up in the near future, but I trust that companies involved in agriculture, minerals and power will get through this. As I am somehow hedged in arable land and PMs, I am willing to risk a small part of my bank savings to buy stocks.

What is your oppinion about this ?

Thanks in advance for your remarks.

-=dchrys=-

Dogs_In_A_Pile's picture
Dogs_In_A_Pile
Status: Martenson Brigade Member (Offline)
Joined: Jan 4 2009
Posts: 2606
I think you already know the answer....
dchrys wrote:

Dear CM followers,

as a greek adult, I have witnessed the crisis unfolding from the front seat of the debt vehicle. Me and my family are not affected for the time being, also because of  the insight shared in this site. The local stock market (Athens Stock Exchange) is at 15-year low, and yesterday it fell bellow the barrier of 1000 points (950 as I am writing this). I am wondering whether it is a good time to buy stocks now (which I haven't done in my life so far), targeting companies that can provide some long term value and possibly dividends. Local banks and other financial institutions may go belly-up in the near future, but I trust that companies involved in agriculture, minerals and power will get through this. As I am somehow hedged in arable land and PMs, I am willing to risk a small part of my bank savings to buy stocks.

What is your oppinion about this ?

Thanks in advance for your remarks.

-=dchrys=-

dchrys -

It seems like you have already done enough homework regarding potential good buys to make your decision.  Following the Crash of 1929, fortunes were made by average Americans who were smart enough to wait, evaluate, observe and make well informed purchases.  There is no reason why you shouldn't take advantage of opportunity presented to you.  Depending on how well your stock purchases go you may be in a very good position to help not only your family, but friends and neighbors as well.

Look at it another way, the ATHEX doesn't care if the blood is yours or not.  As long as the blood isn't yours, you shouldn't either.

ao's picture
ao
Status: Diamond Member (Offline)
Joined: Feb 4 2009
Posts: 2220
When there's blood on the

When there's blood on the streets, buy stocks in wound packing companies.

anniebee321's picture
anniebee321
Status: Member (Offline)
Joined: Aug 21 2011
Posts: 1
buying stocks

i don't know i have been listening to lindsey williams who appears to be quite knowledgable on the subject and

he reckons stay away from stocks altogether as it it still essentially "paper", personally i would wait until we

see a crash -- when everything is rock bottom before venturing into the stock market... just my humble opinion

Johnny Oxygen's picture
Johnny Oxygen
Status: Diamond Member (Offline)
Joined: Sep 9 2009
Posts: 1443
Re: buying stocks

Hi anniebee!

Welcome to CM.

ariantes22's picture
ariantes22
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Joined: Jul 7 2011
Posts: 4
RE: Another greek dilemma: should I buy stocks listed at "Athens

I have 2 thoughts on that topic:

1) I would wait with investing in Greek stocks until Greece defaults, because Greece will default, the question is only when. Upon a default, the Greek banking system will enter a critical phase which might cause the ATHEX to fall more.

2) If Greece stays in the EMU, a default is only a temporary solution. Greece still won't be competitve with many of the other european countries as it is. So if you buy Greece stocks under these circumstance, be ready to sell them a few years later. It's basically a contrarian play.

 

Just my 2 cents.

traveller's picture
traveller
Status: Member (Offline)
Joined: Oct 17 2011
Posts: 1
Oppurtinity or...?

Although this post is quite old I would really need your advise as well.

Just like dchrys I live in Greece and I can testify that things goes from bad to worst.

I have a few savings and I am willing to place (small) part of them in ATHENSX.  Bank stocks  at the moment are really low (and might get lower). I am thinkg of investing in NBG, and wait for about 5-10 years to see my investment pay off.  (Mostly for my kids).
However, I don't know what happens when Greece defaults. Will I lose the stocks? Should I go for Bank stocks or for Telecommunications (OTE which was recently bought from Germans)?

Just asking for a second opinion,

regards,

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