NBG's resistance to today's events is not only proof of its robustness, but also of the mutual irrelevance between the stock and the Greek government. The fact that NBG does not equal Greece cannot be stressed enough. The stock is simply a modest victim of its environment and irrational market conditions.
Of course, these errors in its valuation will correct themselves for the better; they always do. A bit of volatility in the short term may scare the most timid investors away, but give this baby a few months and you'll see why it's a steal at these dirt cheap prices.
Hi sam44, I think the new EU bailout package is a complicated, many-steps burden-sharing process, and will put an end to this drama. It will buy time for Greece to get its act in shape, will put some burden to the lenders and banks, will include a greek bank bailout, lots of state and EU garanties, etc.
NBG's sharee share price is an option to bet on the success of the bailout. Just keep your position strong.
Wow I need to see if a Blue Moon happened last night cause that's how often I read intelligent threads on this or any board on Yahoo. Thanks to all who participated. I would just add my opinion but I do not see a Greek default...no way. The back stop is huge and the EU and it's big banks would lose big so they will not let that happen. Money always rules and if Greece defaulted a lot of money would be lost to some very big players. This is down cause of fear and overblown IMO but I love buying into it and it has served me well these past two years. Who said "Buy when others are fearful and sell when they are greedy"? Only the most succesful trader/investor yet to date...W.Buffet