Category: Greek Stocks

Karatzis Group: Growth, Extroversion, Diversification

Nov. 06 Dimitrios Koutsoubos, Featured, Fundamental Analysis, Greek Stocks, Stock Market no comments

By Dimitrios Koutsoubos

In Athinon Avenue—where Athens Stock Exchange is located—, prices have gone up this year, bringing even the small and micro cap stocks higher. Thus, finding profit making and growth firms in low prices has become difficult now, despite intense research. Only very few, abandoned by investors and little known stocks, meet those criteria. Occasionally, this happens when the growth of such stocks lack the growth of their fundamental figures, as retail investors do not recheck and evaluate. Karatzis SA (KARTZ), seems to be one of them. Read More

Perseus: Next to Aquaculture…

Oct. 07 Dimitrios Koutsoubos, Fundamental Analysis, Greek Stocks, Stock Market 3 comments

by Dimitrios Koutsoubos

Stock-market media have been focusing in aquaculture, now that Nireus (NIR:ATH) & Selonda (SELO:ATH) are about to be sold to new bosses. On the contrary, small Perseus (PERS:ATH), indirectly related to the sector, by producing fish feed, is unexplored and in low valuation. Below, we will see that the company is cheap due to some factors that lead to uncertainty and risk for investors. Though, undervaluation seems to be extreme, compensating for those dangers, making Perseus an interesting alternative option in the broader industry of aquaculture.

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OPAP: Better Off Without such a Dividend…

Jun. 04 Dimitrios Koutsoubos, Fundamental Analysis, Greek Stocks, Stock Market no comments

by Dimitrios Koutsoubos

OPAP (OPAP:ATH) announced the distribution of €0.60 per share, the rest of its Annual Dividend. By adding a €0.12 that has already been distributed and the special dividend of €0.57, the total goes to €1.29 per share. Investors have positively reacted sending the stock above €9. There are a lot of references about the importance and the value of dividends in Investorblog, like lately by Miltiadis here (in Greek). Generally, I agree with this reasoning, but we have always the exception that confirms the rule. Dividend of OPAP is such an exception. Namely, I have a negative opinion for such a large dividend.

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Nireus Stock Skyrocketed, Galaxidi waiting!

May. 28 Dimitrios Koutsoubos, Fundamental Analysis, Greek Stocks, Stock Market 1 comment

By Dimitrios Koutsoubos

Aquaculture is a special sector for the greek stock market. It is one of the few remaining productive and extroverted sectors, but having a lot of troubles and aggressive characteristics, as reflected in stock valuation and volatility. 2015 was critical due to the recapitalization of those companies’ debt coinciding with price recovery of their product. Nireus’s stock (NIR), followed by Selonda (SELO), have rallied in the last few days. On the contrary, Galaxidi Aquaculture (GALAX), despite avoiding a recapitalization, has lost half of its value. This phenomenon should draw the attention of a Value Investor.

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Thrace Plastics: Large, Extroverted, Undervalued

May. 19 Dimitrios Koutsoubos, Featured, Fundamental Analysis, Greek Stocks 3 comments

By Dimitrios Koutsoubos

People not keen on the greek stock market, namely most Greeks, and the Greek micro-investors who are mostly used to buy only banks, both think that the greek stock  market has been totally destroyed. They probably ignore that a small group of greek companies which have turned their attention abroad, are growing and produce more and more earnings. They do global sales either by choice, or due to their nature. This is a fortunate fact for their employees, the greek economy, the society and state’s income. But unfortunately for value hunters, this “fishing ground” is getting better and better known among investors, so larger extroverted companies are no longer cheap. Now, undervalued and extorverted are only found in Small Caps. It is very interesting that Thrace Plastics (PLAT), which is somewhat larger -especially for the greek stock market standards-, has ratios that show undervaluation.

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AGM: Mytilineos Allured me

May. 18 Dimitrios Koutsoubos, Featured, Fundamental Analysis, Greek Stocks, Stock Market 2 comments

By Dimitrios Koutsoubos

Two weeks ago, I was in Mytilineos (MYTIL) AGM (Annual General Meeting of Shareholders). That was not the first time for me being in an AGM, but this time I was there as a member of the board of directors of the Greek Shareholders’ Association (SED) and a program that it organizes. In cooperation with universities and the Athens Stock Exchange, SED has organized the observation of AGMs’  by students. In Mytilineos,  once again, it was confirmed that AGMs consist a big shcool, as SED’s President, Mr. Egglezos is used to saying.

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Why Value Investing in Greece?

May. 13 Dimitrios Koutsoubos, Featured, Fundamental Analysis, Greek Stocks, Stock Market no comments

By Dimitrios Koutsoubos

It is a fact that greek investors are less mature compared to global investors. Τhat is reflected to the Greek Stock Market, as expected. In Greece, irrational behavior and valuations are more often and more intensely experienced, as a result of loose connection between stock prices and fundamentals. A wrong conclusion after the above, is that value investing makes no sense in Greece. I will attempt not only to break this impression, but also try to reveal the truth, which is total different than the obvious.

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