Global markets have been rattled in recent weeks by concerns over debt trouble in Greece. But could this be an opportunity for U.S. investors to benefit from bonds and stocks coming out of at-risk European countries? James Altucher, managing director at Formula Capital, shared his stock picks.
“I don’t think the Eurozone is going to let Greece default on their bonds,” Altucher told CNBC.
“I think what you can do is buy stocks that are based in Greece, but trade here that have the most potential for snapback.”
National Bank of Greece—“It’s the safest bank in Greece—it’s like the JPMorgan of Greece,” he said. “They’ve got a solid balance sheet and trades at seven times earnings.”
Altucher also said the company could double from its current level, but cautioned it may be slightly risky.
Coca-Cola HBC—“This is the Coca-Cola of Greece and Coke owns 23 percent of the company. And Greece is only about 10 percent of their revenue,” he said.
“They have revenues all over Europe—but the stock has crashed with the rest of the stocks trading here that are based in Greece.”
Hellenic Telecom—As a phone company, this firm should be safe from debt crisis, he said.
- Watch Altucher's Previous Appearance on CNBC (Jan. 8, 2010)
More Market Views:
- Europe's Debt Issues Are Just Beginning: Manager
- 6 Picks to Buy on Dips: Strategists
- Art Cashin: A Nagging Question in Greece Bailout
CNBC Data Pages:
Altucher does not own shares of NBG, CCH or OTE.