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Greece: Will the Real Contrarian Please Stand Up?

Greece: Will the Real Contrarian Please Stand Up?

2012-06-12

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It might sound crazy when I say that Greek stocks could become a good long term investment soon.

However, from a real contrarian point of view, it might not be that crazy. Here’s why. 

The Greek stock market has lost 93.3% from its top in late 2007 to its recent low. Yes that’s correct: 93.3%.

 

.........

Chart: Prorealtime.com

When we look at the Dow Jones in 1929, we can see a similar move: From the top in 1929 to the bottom in 1932, the Dow Jones lost 89.48%. So Greece has declined even more than the Dow Jones in the Great Depression!





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