g****r
发帖数: 306 | | a****g
发帖数: 8131 | | g****r
发帖数: 306 | 3 Thursday marked the debut of the first Greece-specific ETF, the Global X
FTSE Greece 20 ETF (NYSE: GREK).
As Global X notes, citing Bloomberg, since reaching a peak market
capitalization of over $220 billion in 2007, the market cap of the Athens
Stock Exchange has fallen nearly 90% to under $28 billion as of November
2011. So perhaps there's value in Greek stocks.
Financials account for 35% of GREK's sector weight while consumer
discretionary (18.4%) and consumer staples (12.66%) are the only other
sectors receiving double-digit allocations. Industrials, telecom, energy,
utilities and materials are also represented in the new ETF.
The utility of GREK may lie in the fact that patient investors could be
willing to bet things can only get better for Greek equities, but those
investors may find stock-picking among Athens-listed fare too daunting. GREK
certainly solves that problem.
Bull case: Simpy put, investors start believing there are legitimate value
opportunities with Greek stocks.
Bear case: Simply put, things do get worse for Greek stocks, perhaps on the
back of a sovereign debt default or departure from the euro.
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