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%.
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!