Well thanks for your coaching. However, I’m doing okay – two of my stocks are each up 73% and another one 37% within the last 12 months, more than offsetting the four that are down. I admit though I’m still learning. Hate that I didn’t jump on facebook!
Well news must be fluctuating - ete in Athens just shot up from being down.
I can see why suctube thought this was a new announcement b/c the article, National Bank of Greece (ADR) – Looking To Raise Tier-I Capital, is dated 10/22/13. Thanks for clarifying.
Suctube posted that NBG has offered to buy back 22.5M of its 25M ADS Pref shares. I believe these have a face value of 25.00 – it’s late and I still need to read terms of the offer. I believe you insinuated Core Tier I capital will increase by the difference between what they pay and the face value of the preferred. Perhaps the offer will be attractive enough for the shareholders to accept, assuming shares are not callable.
Krim, I said investors share news and opinions on YMB – I didn’t mean it had to be only positive opinions. Embroil ft? Ganging up on you? In one post I suggested jp point out to you how NBG avoids currency turmoil – an expression many use, i.e., perhaps you can point out to so and so. In another post I asked jp’s opinion of you regarding your “unconfirmed” post of angry NBG shareholders storming corp HQs after, a day later, I had failed to receive a response to my question asking the source of this information. At least this got a response as you replied saying it was just “a humorous form of symbolism.” After jp reported this post to Yahoo (which I had not requested of him), it was taken down because it appeared to represent an actual newspaper article. So, I fail to see how these two posts indicate I’m looking for “allies to use to gang up on those with opposing points of view.” Of course I sometimes direct questions to kp just as you direct questions to Buchanan and Finito. You’ll probably have another reply to me; if so you get the last word as I don’t have time to continue this conversation.
Re dilution, fp, IMO you are emphasizing the broader aspect of "true" dilution after factoring in the buyback of the prefers, as you say you did not deny that the issuance of new shares causes dilution. However, Krim is using the book definition of dilution, which is the more common usage of the word. As you pointed out, it’s good news NBG could afford to buy back those preferred shares recently.
I think the more interesting question is not what NBG’s share price would be if it recovered to a Dec ’07 level but what the current price targets are. Re calculating max potential share price, according to Investopedia, “The interesting thing about price targets is that there is no surefire way to calculate them. For example, two separate traders holding a stock that is trading at $60 may have drastically different opinions about where the stock will go. One trader may set his or her price target at $75, while the other will set it at $120. Price targets are a function of risk tolerance and the amount of time that one plans on holding the security.”
Maria, thank you for the message to Krim, which fell on deaf ears. I ignore answering his posts as he is usually incapable of communication with anyone holding a different point of view without resorting to personal attacks, especially with me. However, I would like to address your post. (BTW I don’t understand how he can be motivated to spend so much time on the YMB) First of all, you say that I’m a “rational person.” Ha, how did you come to that conclusion? Well, I do feel my opinion about NBG is rational based upon my selected time horizon and do not feel NBG is a “wretched” stock.. Secondly, I’d hope people on YMB have some experience in the stock market and are there only to share information and opinions. Investors (dare I say sensible people) do not make a decision to buy a stock based on what they read on YMB without doing some research. If they do not, they have no business selecting their own investments. Am I wrong about that?
Your situation is rather unique in that you developed an immense respect for Krim’s opinion and turned to him for advice as evidenced in your questions about how to trade Alpha Bank. Evidently, you originally invested in NBG based on recommendations of your financial advisor to whom you have previously referenced. And I assume you derived your current relevant logic about NBG based upon information in Krim’s posts. However, not everyone base their decision on what Krim feels is relevant. Investors do their own research and base their choices on many different factors. So, I mean no offense to you. Warm wishes for getting that dream home!
You were correct last night in your post about NBG rebounding from the bad news today. Today it's reported IMF was using old methodology to evaluate NBG capital needs. Good call!
In 5 billion calculated banks' needs
Based on the good scenario for the economy capital needs of Greek banks are estimated at levels of 5 billion euros. As of March 7 announcement. The appointment with the Bank of Greece.
In 5 billion estimated, based on the positive scenario for the evolution of the economy, that will be the account of BlackRock. Yesterday there was a barrage of meetings between officials of the National Bank, Alpha Bank, Eurobank, Piraeus officials of the Bank of Greece.
Purpose of the meeting was the presentation in principle on the part of commercial banks of ways to meet the future capital requirements arising from the findings of BlackRock.Today executives Attica Bank and Hellenic Bank will meet with executives of the Bank of Greece.
The only bank that is known as funds would need 2.5 billion euros, the Eurobank,which launches Capital Increase.
The National Bank, according to the information seems to have capital needs of around 2 billion, and possibly less, depending on what you will accept and what not troika regarding the plan for the sale of Finansbank. ACCORDING TO RELIABLE INFORMATION, THE BANK COVERS CAN MANAGE THE RANGE OF NEEDS FROM ITS OWN FUNDS.
The other two banks, Alpha Bank and Piraeus, allegedly based on the findings of BlackRock have small capital needs which cover with the same instruments.
The announcement of the results of the BlackRock will be immediately following the meetings will be the Governor of the Bank of Greece George Provopoulos initially with troikanous later than Wednesday, followed by the administrations of commercial banks.
Then you will need some days to the banks to give clear details on how to meet their capital needs and will follow the announcement no later than March 7.The possibility that communications be made on February 28 gathers the least likely.
It is worth mentioning that a catalytic role in initiating developments plays the "silent" resignation of Greek side from claiming capital gain of about
Hi fp, Another ID Krim created is usicktroll1 that he uses to post "are you still here" to you. On Feb 22 usicktroll2 (who has 1451 posts) told usicktroll1 that he is being investigated for cloning.
I miss you on NBG board as you had some very good points. However, everyone has different investing techniques, and I cannot blame you for exiting your position. GLTY
Source: bankingnews gr; See article titled: In 5 Billion Calculated Banks’ Needs
Significantly, the two banks expected to exhibit the higher capital shortfalls will most likely cover their capital needs with “own means” without resorting to the Hellenic Financial Stability Fund (HFSF) capital buffer. The latter is estimated at 8-9 billion by the BoG and close to 11 billion by the HFSF. In any case it seems that the upcoming disclosure of Greek banks’ capital needs will not force rights issues (issuance of new shares) (excluding that already announced by Eurobank), while the HFSF capital buffer will most likely remain intact. Macropolis, 2/23/14
By Jens Bastian: A third constituency directly and adversely affected were the more than 15,000 private retail investors in Greece. These citizens, many of whom are pensioners, had decided to invest part or all of their life’s savings in Greek government bonds right up to early 2010. Being told by their bank’s branch manager and receiving reassurances from media coverage that this was a safe investment with regular coupon payments, these investors are today aggrieved, poorer and hold a bag of resentment. See “Debt relief or debt restructuring for Greece?” (MetroPolis)
Unfortunately, these private investors listened to other sources instead of relying on their own judgment. Financial planning experts have always advocated avoiding putting all your eggs in one basket.
Qcontrol24, I’m sorry if you were one of these investors.
Yes, fp718 "59"1, I see the new nick Krim created (fp718951) to look as if it was you posting. He says it was a test to see how many thumbs up the posts would get. LOL Also he must be using some of his other IDs to give a thumbs up to try to prove his point as I never get that much response in such a short time. I will keep my opinion about Krim to myself. I prefer to post news and opinion relating to Greece and NBG and avoid hostile, confrontational attacks. I appreciate your opinion and response to issues that I post. Happy Friday!
I didn't post this. Notice that this is a new nick - it has an extra "7" and was created today.