National Bank of Greece S.A. Pfd. Series A ADS NBG.P.AWD

RE: NBG

[Baer1]

This is just my humble opinion: remember that NBG gets much of its revenue from outside of Greece (Turkey and Eastern European countries). If Greece defaults, they will take a hit. That's why I have a small stake now, with intentions of adding after the sh** hits the fan. NBG will survive, and be a major force in rebuilding the restructured Greek economy. We will have an opportunity to buy a money centre bank for pennies at that point. NBG will likely buy the assets of Alpha and some of the others at that point, as well. Alpha doesn't have the foundation to weather the storm on its own. The other smaller banks will be consolidated, either by NBG or some other opportunist. My other concern is that we are currently buying US ADRs. What happens if the US joins the PIGS in default? I would much rather buy NBG directly, and am looking into the logistics of that. Of course, if the TSX and LSE merge, we may have direct access to European stocks.......