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Investors feeling Greece after the Radical Left SYRIZA took power, fearing its anti-austerity plans will shake the Eurozone, are making the wrong bet.

That was the assessment of Nobel Prize-winning economist Robert Shiller who said the anxiety and overreaction has driven down Greek stocks, making them a bargain.

“Investing in Greece right now just might not feel right,” the Yale University economist said. The price of Greek stocks is ’’below anything I’ve seen in the US and suggests a spectacular investment,’’ Shiller said, the Bloomberg news agency reported.

Shiller, who won the Nobel Prize in Economics in 2013 for his modeling of asset-price fluctuations, said that while the situation in Greece is challenging for investors, the stock price of Greek companies failed to reflect their earnings potential.

Greek bonds and stocks fell for a second day on  Jan. 27 over worries SYRIZA will clash with the Eurozone and threaten a delayed 7.2-billion euro loan from international lenders.

“You can’t free yourself from the prison of the zeitgeist unless you become a smart beta person and start mechanically doing investments that don’t sound right,” said Shiller.

The post Nobel Economist Says Buy Greek Stocks appeared first on The National Herald.

Source: The National Herald
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