Greek drama sets up (tiny) market opportunity

Is Greece close to a deal?
Europe closes: Official says 'Greece close'
Should investors sweat Greece?

A small group of hedge funds that includes Dan Loeb's Third Point, Richard Perry's Perry Capital, and Tom Wagner and Ara Cohen's Knighthead Capital Management continues to view uncertainty over Greece as a chance to make money.

"While the ongoing negotiations are likely to result in volatility, regardless of the outcome there should be attractive European recovery opportunities in both Greece and Europe more broadly," Gregory Schneiderman, a portfolio manager at $8 billion hedge fund allocator Aurora Investment Management, said in an email Friday.

Schneiderman noted that Greece was not a common position for hedge funds and that investors only see "a limited number of actionable opportunities" directly related to the troubled country.