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If you wanted to position yourself to make a lot of money if Greece defaults, what would you do?
by karzeem 16y ago
If you wanted to position yourself to make a lot of money if Greece defaults, what would you do?
- maukdaddy 16y agoLamb futures.
- dschobel 16y agowell considering the debt now has junk status you'd just buy it at pennies on the dollar (like the people buying the bad mortgages) and hope the austerity measures pass and they get their shit together.
- deleted 16y ago[deleted]
- nkassis 16y agoshort British banks? just repeating what I saw online ;p
- drsnyder 16y agoI've heard some suggest that one play would be to buy gold in euros.
- joubert 16y agoGerman bonds
- CWuestefeld 16y agoIsn't that backwards? Wouldn't a Greek default hurt German banks? Is there something I'm not seeing about how that would affect the issuers of German bonds?
- alphaBetaGamma 16y agoYou buy CDS's on greek debt. But this is not available to retail investors.
- mos1 16y agoFWIW, a 5 year Greek CDS currently sells for $925k/yr, and pays out $10m if the debt defaults in that time period. Not exactly the bargain of the century at this point in time. Edit: for context, that's roughly the same price as Venezuela and Argentina.
- eli 16y agoYou're not exactly getting out in front of that one, eh? Ok, so you find a way to bet on Greece failing... don't you think the people on the other end of that deal are also watching CNN and have priced the deal accordingly?
- karzeem 16y agoNot thinking about it for myself. Just trying to figure out what people might be rushing into in a mad panic.
- cschneid 16y agoGo long USD, short EUR.
- Keyframe 16y agoJPY better, EURJPY is a gauge for markets also. Markets go down, EURJPY follows and market goes up, EURJPY goes up (like most yen crosses, but eurjpy being most prominent)