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From Big 4 (Audit) in Greece to IB in New York
Hello, I have a BSc in Accounting and Finance and MSc in Financial Management (Both from Top Schools in Greece) . Also I work for Deloitte as an Analyst in Greece. What is the right methodology to find a job @ IB or AM in NYC if you require also sponsorship. (not immediately, but lets say in max 3-4...
Q&A: Ex-Senior Credit Risk Analyst at Barclays Investment Bank and grad student at Cornell University
About - Currently a graduate student in Applied Economics and Management with concentration in behavioral finance at Cornell University - Prior to the Masters I worked for 2 years at Barclays Investment Bank in Glasgow, UK in the Risk department (specifically focused on portfolios with securities...
How common is it for firms to restructure governments? Is there one firm that gets most of these mandates?
Hey everybody, I know PJT was providing restructuring services for Greece. Are there any firms in particular that specialize in restructuring on governments, particularly in developing nations? How common are such mandates?
Investing in Greek Stocks and Winning
As much as we all hear the Warren Buffett quote, "Be fearful when others are greedy and greedy when others are fearful", it's a really hard rule to follow. Listening to all the news about the trouble Greece's economy is in, I actually never thought about finding good, undervalued companies in the...
Greece: A History of Financial Disaster
Dionysius the Elder, a ruler in ancient Greece, ran up massive debts to pay for his multiple military campaigns. His solution? Change every drachma into two drachmas. Pulling money from nowhere to cover massive debts has seemed to be a monetary policy throughout Greek’s history. First, let us...
Greece On a Road to Nowhere
Well the inevitable has happened. Greece is unable to make its payment to International Monetary Fund on June 5th.Interior Minister Nikos Voutsis told privately owned television station Mega that Greece is scheduled to repay EUR1.6 billion ($1.76 billion) to the IMF between June 5-19, but the...
Piece on the Greece Debt Crisis
can someone recommend a report or an article (that you have read and found insightful) that summarizes the Greece Debt Crisis while providing an outlook?
Grexit. What are your views? What are your firm's views?
I for one think Grexit will happen, and we should already prepare for the worst. However, what do you think and even more importantly, what does your firm think? People say it has been priced in...but has it? People say there are firewalls, but how do you really know your firewalls work in the...
The week that rocked the global economy…
Last week represented a whirlwind of activities that shook markets and expectations. It started with the surprise move with the SNB exiting the exchange rate peg with the Euro driving many a hedge funds out of business followed by the death of King Abdhullah in Saudi Arabia. The much anticipated QE...
Greece: A blessing in disguise?
As the ECB and the Greek elections bring us closer to the decision of whether or not Greece stays on the Euro, I can't help but think about the potential for mispricings in the market - specifically among Greek companies. My theory: if you can find a company operating in Greece that generates steady...
Eurozone Unemployment Tops 12%
My kids are on spring break for the next couple weeks and I was walking them to the park yesterday afternoon when I was suddenly surrounded by riot cops and TV cameras. Admittedly I was looking down at my phone and not paying attention, but it was surprising how quickly it happened. I looked up and...
A brief history of the Drachma
In 1827, when the modern Greek State was created, money transactions were carried out mainly in Turkish coins, as well as in foreign currencies such as the Spanish Distilo. There was no Greek currency until 1828. A national monetary system, based on silver, was established for the first time in...
Spain: Too Big to Fail
In the past few months, we have witnessed a rise in the questioning the stability of the eurozone. Much of the focus has been on Greece and the June 17th elections (which have led to more confusion). The winner of the Greek elections, pro-euro New Democracy, has the next two days (give or take) to...
Are Greek ATMs Drachma Compatible?
In the latest sign that a Greek exit from the Eurozone is all but imminent, global bank HSBC ran extensive tests on their ATM machines in Athens and throughout Greece in preparation for a return to the drachma. The tests were rigorous and were done to ensure the machines could handle notes of...
Coming soon to a brokerage near you
How it took this long for somebody to make this is beyond me, but nevertheless, this Thursday marks the grand debut of the Global X FTSE Greece 20 ETF (Ticker name: GREK) , the first-ever all-Greek ETF . Tracking the FTSE/ATHEX 20 Capped Index, which in turn tracks the 20 largest companies in...
Grease Fire Spreading
We have said so much about Greece that there’s barely a point left to make. In spite of all the talking, however, I still have to ask how can you let it get to this? The question is intended at everyone from the Greek government and public, the European Union and pretty much anyone who bought a...
Default Already Will Ya?
Will Greece default this week? The question that has been on many minds over the past two years could come to a head in the oncoming days. Maybe it's the NFL season getting to me already, but I can't help to feel like I am watching a team tries to punt on every down. Whether kicking the feta down...
Soros 3/4 in Cash
Though he is not one of my favorite people in the industry it isn’t really possible to doubt the investing acumen of George Soros. Over the years many have made a good bit of money in markets by simply mimicking his strategies. The most recent, however, is hardly worthwhile replicating for most...
Blackstone is advising Greece creditors?
So I was browsing Blackstone's transactions list and saw that BX "Advised PCIC on Greece’s €206bn debt restructuring". Anyone familiar with this deal or know who PCIC (Private Creditor Investor Committee) represents? Also, why is this under BX's advisory group and not restructuring?
Is the Euro Kaput?
I take no joy in the suffering of others. Then again, when you are a contrarian…grinning like the Cheshire Cat while winking I toldya so is about as satisfying as life can get. For many years now, well before it became the stuff of Wall Street Journal headlines and Bloomberg op-ed columns, I have...
Hedge Funds in the Balkan region
Hi everybody I'm looking to get into hedge funds that invest/are active in the Balkan region. Its been very hard to find this information over Google and Linked in, does anyone have any idea of what I should be doing to have some better luck? Thank you!
Papandreou survives! But will Greece?
Or the EMU for that matter? Pimco’s Balls was on Bloomberg earlier today and he highlighted most of the obstructions Greece is facing in their crisis. Honestly I just feel bad for the Greeks, they’ve been enduring hefty austerity measures just to avoid default and yet, I see no way out of this...
Getting ready for an extreme tail event
In which financial instruments would you invest in to benefit from a Greek default? I am starting to list the types of positions I would take if this unlikely event would occur. So far I found a list of short-turbo certificates offered by ABN-AMRO. Do you guys have any suggestions? I’m not a big...
Let the Greeks Go
We often casually reference the 800 lb. Gorilla in the room to allude to issues which we prefer to ignore. In this regard, the hobbled, battered, beaten and tattered economy of Greece is a lot more like the 80 lb. model in a room full of coke dealers. While nobody with scruples is going to feel...
Goodbye Greek Sovereignty, Hello Mayhem
I’d like to dedicate this song to Greece, particularly the chorus. While I completely understand why they’d rather focus on Nicole Scherzinger’s sweet gyrations, what they really should be doing is listen to the lyrics. They’re terrible I know, but after years of insisting that the EU bail...
How the more fiscally responsible countries in Europe should feel about Greece’s “threat” of exiting the Euro
Short Run: Long run: Unload all olive oil contracts: www.wheninfinance.tumblr.com Follow us on Twitter: https://twitter.com/#!/wheninfinance
Is a Euro Exit actually a viable option for Greece?
After reading this article it got me thinking whether exiting the Euro is actually a viable option for Greece. Let's look at how things might play out (please bare with me for any simplifications etc. and should there be errors in my logic feel free to point it out).
How Long Before Greece Leaves the Euro Zone?
I find it ironic that a country which defrauded its way into the Euro Zone is likely to be the first country to exit the Euro Zone. Despite a raft of hasty denials by just about everyone in Brussels, it now seems all but inevitable that Greece will bail on the Euro when they default on the €110...
Greece - debt swap a good idea?
from washington post: Heavily indebted Greece and its bondholders have agreed on a debt swap that would reduce the face value of their holdings by 53.5 percent. Bondholders — banks, insurance companies, and investment funds — are offered new bonds that are worth less, have a longer time to be...
Rome or Athens for Spring Break
Planning a last minute spring break trip to Rome or Athens. Any thoughts on one vs the other? Will have 5-6 days wherever I decide to go. Big pro of Athens is the whole economic implosion thing really seems to have depressed hotel prices.
would you pay to work?
Forget your shitty bonus, imagine having to pay back a month's salary. Salary cutbacks (called "unified payroll") for contract workers at the public sector set to be finalized today. Cuts to be valid retroactively since november 2011. Expected result: Up to 64.000 people will work without salary...
Grexit
What do you guys think would be the best outcome for tonight's debate on further austerity measures in Greece? For my part, I kind of hope they say no. The idea that the fallout from a Greek exit from the euro will be 'contained' is preposterous but I also believe it's a shock markets can withstand,...
PIG Flu: Portugal, Ireland, Greece on the Bubble
We might have Aegean Contagion Part Deux on our hands. All is not well on your Uncle Eddie's side of the pond. Ireland draws closer to a full scale bailout by the day. Portugal is signalling that they're not far behind. And Greece is in the news once again, having to restate their projected deficit...
Soros Says the U.S. is Already in a Recession - Defining Balance Sheet Recessions
Soros recently asserted that Europe could be more dangerous to the global financial markets than the default of Lehman Brothers in 2008, because of the political stubbornness of European policy makers. He has been saying this for over two years now, while government officials continue to ignore him,...
The Next Greece: Is It Curtains for California?
If California were its own sovereign nation, its GDP would rank 8th among the world's 195 countries. Luckily, California is not a country, because that would mean Arnold Schwarzenegger would be Supreme Commander of the Kingdom of California. (And, by extension, that the pregnant star of the film...
Greece Bans Shortselling
Greece is baning shortselling for 2 months... Does someone have some knowledge as to how this is going to help matters? Just curious to what the logic behind this is. http://finance.yahoo.com/news/Greece-bans-shortse…
10k bet on Greek default
I have about 10k in disposable savings and a pretty strong view Greece will default within the next month. How would you guys go about (potentially) making as much money on a Greece default? As far as I know CDS aren't available to non-institutional investors (besides being really expensive at this...
French Plan
Seems it is contingent upon the rating agencies not downgrading Greek debt and Papandreou maneuvering austerity through the gauntlet a second time. [quote=]Schaeuble sees a French proposal to roll over Greek debt as a “good basis” for talks, Asmussen said. Under the French plan, private...
A Possible Inflection Point in Greece?
As Greece has taken on an increasingly disproportionate role in today's macroeconomic outlook, the likelihood of the can NOT being kicked down the road ad infinitum seems to have shrunk to zero. But just as it seemed safe to give up on this whole thing ever being resolved, the private sector is...
How about Greece File Chapter 11?
How about debt holders convert into equity holders and get a say in the countries restructuring process, like figuring out tax rates and the budget. Afterwords, whatever is collected by the government in taxes and is left over after spending is distributed to these equity holders until their...
EU Proposes $928 Billion Crisis Aversion Plan...It's About Time!
http://leverageacademy.com/blog/2010/05/09/europe… After months of avoiding the debt refinancing troubles of Greece, the European Union came together this weekend in a crisis summit to address the falling Euro and credit malaise in the EU. Describing short investors as a "wolf pack" plaguing the...
Is the U.K. the Next Greece?
A day after the EU has come to terms on a bailout to save Greece, this Bloomberg TV analysis is pretty interesting. First, they point out that the rates Greece got were still pretty punitive, despite the fact that they were below market rates. But even more interesting is the notion that the U.K.,...
Should public debt be allowed to be restructured?
As title says. Do you guys think its a good idea to allow this to happen? SHould there be a sovereign Lehman Brothers?
Fed Investigating GS over Greece
In what I'm quite certain will amount to much ado about nothing, Ben Bernanke testified before Congress today that the Federal Reserve is investigating Goldman Sachs 's part in the Greek debt crisis. Evidently, destabilizing a sovereign nation for fun and profit is not okay anymore. “We are...
My Big Fat Greek Default
The markets have been choppy of late, due in no small part to the bit of drama playing out in the EU right now. A couple of EU nations are against the ropes in a big way, and there doesn't seem to be a coherent plan in place yet to deal with this next step of the crisis. At the center of the problem...
I don’t get it: Why aren’t the peripherals moving out of the Euro Zone?
I’ve been thinking about this issue for quite a while. If you look back at historical economic events, most of the accounts suggest a very clear message to us: Let the countries in strains voluntarily or be forced to devalue their currencies. By doing so, they could get back to balance.
Goldman on the Irish Bailout...European Contagion
The Irish bailout being unveiled this week will determine the performance of both the Euro and the global equity markets. Irish and Portuguese bond spreads had been widening over the past four weeks, since Ireland again became the focus of bearish investors. Sources claim that the current bailout...
Purchasing Euros?
Non-technical question here, hope that's alright. I'm planning on spending next Fall abroad in Europe and want to capitalize on the low Euro now. Where/what is the best form to purchase Euros? First consideration was to simply exchange at my bank, but they want 1.30 for every dollar, which is more...
Will Greek Insolvency Hurt SA Conversion?
So this Greece deal seems to be starting to play out pretty seriously, and US markets certainly are nowhere as bullish as they were a couple of weeks ago. Was reading somewhere that some expect the Dow to hite 8500 before it hits 11500 again. That being said, does anyone think this will hurt SA...
Lazard Advising Greece
Lazard Advising Greece http://dealbook.blogs.nytimes.com/2010/05/04/laza… May 5, 6:26 a.m. | Updated Lazard said on Tuesday that is advising Greece as it works to complete an extensive bailout loan from the European Union to avoid defaulting on its debt. The investment bank has a long history of...
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