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Greek Bailout is a Done Deal!

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February 20, 2012 – Comments (11)

http://www.marketwatch.com/story/europe-reportedly-agrees-terms-of-greek-bailout-2012-02-20

Negotiators have reached a deal on the second aid package for Greece.  Slight increase in the haircut private Greek bondholders will take. 

I've seen reports that government and ECB bond holders will be spared a similar trip to the barber chair.

It's widely believed that this second aid package will carry Greece all the way until a third bailout is needed.

11 Comments – Post Your Own

#1) On February 21, 2012 at 2:06 AM, awallejr (83.83) wrote:

And a fourth and a fifth.  Market should make a higher high tomorrow which is a technical positive.

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#2) On February 21, 2012 at 2:06 AM, awallejr (83.83) wrote:

And a fourth and a fifth.  Market should make a higher high tomorrow which is a technical positive.

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#3) On February 21, 2012 at 2:07 AM, awallejr (83.83) wrote:

damn double post.

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#4) On February 21, 2012 at 5:02 AM, portefeuille (99.59) wrote:

My fund has quite a bit of "European exposure".

(European positions in boldface)

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#152) On February 18, 2012 at 7:46 PM, portefeuille (99.81) wrote:

largest long positions (USD). top35.

EMC, 976960.00.
DSCO, 604900.00.
ALGETA:NO, 386531.04.
XDAX:GY, 294730.01.
VOW:GY, 187006.29.
ATPG, 140030.00.
SVNT, 131950.00.
BION:SW, 126150.00.
TKMR, 120360.00.
EWQ, 119845.00.
ISIS, 118860.00.
EWI, 114580.00.
MDAXEX:GY, 113394.08.
PAH3:GY, 112329.90.
EWP, 110600.00.
EWH, 107760.00.
EWZ, 106547.00.
MOR:GY, 105295.55.
AAPL, 100424.00.
BAS:GY, 99291.75.
MNTA, 98540.00.
EXEL, 98260.00.
EPI, 96255.00.
PBTH, 93000.00.
QQQ, 88802.00.
EWY, 83188.00.
RSX, 82862.00.
FOLD, 82420.00.
CSCO, 81160.00.
ROG:VX, 80940.45.
AIXG, 79065.00.
QGEN, 79050.00.
EWJ, 74775.00.
ITMN, 73950.00.
DB, 66885.00.

current value of top35 positions: $5.44 M (53.9% of the current value of all long positions).
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fund performance since March 8, 2010: ≈ 51%.

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#5) On February 21, 2012 at 5:09 AM, portefeuille (99.59) wrote:

BION:SW

BION:SW currently has more non-European assets than European ones, I believe ...

http://www.bloomberg.com/quote/BION:SW

http://www.bbbiotech.ch/en/bb-biotech/investor-relations/facts-figures/

 

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#6) On February 21, 2012 at 5:25 AM, portefeuille (99.59) wrote:

http://www.bbbiotech.ch/en/bb-biotech/portfolio/portfolio-overview/

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#7) On February 21, 2012 at 9:12 AM, somrh (87.68) wrote:

"It's widely believed that this second aid package will carry Greece all the way until a third bailout is needed."

QFT

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#8) On February 21, 2012 at 10:21 AM, ElCid16 (93.29) wrote:

http://www.businessinsider.com/leaked-memo-blows-the-lid-off-of-the-entire-greek-bailout-2012-2

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#9) On February 21, 2012 at 10:49 PM, Bays (30.21) wrote:

porte, where do you find the time??  You are a poster boy for efficiency. 

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#10) On February 22, 2012 at 7:54 PM, rfaramir (29.29) wrote:

"European member states will lower interest rates on their loans to Greece retroactively to a margin of 150 basis points from 200 basis points" A default of 25% of their interest payments, gov-to-gov.

“national central banks will pass any profits on Greek government bond holdings in their investment portfolios directly back to Greece.” 100% default on interest payments gov-to-banks.

"Greece has also reached a deal with private holders of Greek government bonds" and "Private-sector bond holders will take a haircut of more than 53%" is at least a 53% default on the PRINCIPAL of gov-to-person debt. You can tell who has the power around here.

Don't buy government bonds. You are enabling tyranny and will be screwed in the end.

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#11) On February 22, 2012 at 8:51 PM, rd80 (98.47) wrote:

Fitch wins today's 'intuitively obvious to the most casual observer' call award.

Fitch Cuts Greece Ratings; Says Default 'Highly Likely' In Near Term


 

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