NEW YORK – Hayman Capital Management founder Kyle Bass says hat foreign investors are waiting on the sidelines for a tectonic political shift to take place in Greece, in 2018, CNBC’s, Lori Ioannou reported.
“My best guess is a snap election for prime minister will be called between April and September of next year and Prime Minister Alexis Tsipras will lose power. When that happens, there will be a massive move into the Greek stock market. Big money will flow in as investors feel more confident with a more moderate administration. It’s going to take Kyriakos Mitsotakis, president of New Democracy, the Greek conservative party, to be voted in as prime minister to reform the culture and rekindle investor confidence,” Bass said.
“I have no doubt €15 billion in bank deposits will come back to Greek banks if he’s elected. The stock and bond markets will also jump following the election,” he added.
Superstar hedge fund manager Kyle Bass thinks Greece is turning a corner on its decade-long debt crisis that mired the country in a depression and whacked 28 percent from GDP. The founder and chief investment officer of Hayman Capital Management, which manages an estimated $815 million in assets under management, has a good pulse reading on the Greek economy and political climate. For years he’s been invested in Greek bank stocks that are trading at a quarter of book value.
Read the full story at CNBC here.
RELATED TOPICS: Greece, Greek tourism news, Tourism in Greece, Greek islands, Hotels in Greece, Travel to Greece, Greek destinations , Greek travel market, Greek tourism statistics, Greek tourism report
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Source: thenationalherald.com
