Trading Global Banks on Economic Recovery

The email file on Friday contained a query from a long-time reader and good friend about National Bank of Greece (NBG). They reported earnings Thursday and exceeded analyst expectations primarily because of strong results at their Turkish operations.

Bad loans are still an issue with the Greek side of the bank as more than 20% of all loans at the bank are more than 90 days past due. Greece is still a mess with 28% unemployment, and it will take a long time to get better. I have no idea if they have turned the corner but will just hold my shares as a long term option in an eventual recovery.To my discredit, I missed the arbitrage-related rally last year and didn't sell my shares, so I will settle in for a very long ride....606 more words left in this article. To read them, just click below and try Real Money FREE for 14 days.

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