Back in January 2012 when Greece was discovered as a country and not as a movie starring John Travolta, I set my sights on NBG(National Bank of Greece). At the time the stock was approximately $2. Now the bank of a country cannot go out of business, that would be crazy, and the world financial entities were working hard to stave off such an event anyways. So by mud February the stock had gone to approximately $3. Among all the bad news investors saw that the hype surrounding the stock and the fact that the survival of the Euro would depend on the saving of the Greek financial system, would bring funding. So money was pumped into Greece and austerity measures were implemented to increase the confidence of lenders. S there you have it. Unfortunately I was cowardice and sold the stock before it turned a profit. That was a learning experience.
Now I suspect that financials will rise again. Though the housing industry is bad news, sales are up for January. That means more people are taking advantage of low interest rates and low home prices. The recent settlement between the US government and the banks regarding foreclosures is expediting the foreclosure process and will put many more homes on the market. So there will be a lot of activity and of course a lot of borrowing. Through out the housing bust there was one place that had a steady growth. Brooklyn USA. Brooklyn has been growing in residential and commercial real estate. Its the new Manhattan, but a little cheaper(for now). Today I discovered the stock symbol LOAN. This company provides short term loans to businesses, especially in the real estate industry. The company is based in Manhattan but has a Long Island phone number. The current price is $1.13. This stock I expect to go up to at least $1.30 in the spring when developers want to do renovations or the love in the air convinces people to buy up the cheap houses now on the market. Then again everyone is afraid as a result of the fear-mongering by politicians, media and movers and shakers in general. So putting down roots appears a risky undertaking for some. LOAN provides loans to businesses, and business people are risk takers by nature. Still, considering the real estate developer and the buyer LOAN is a safe bet to rise to $1.25. So a profit can still be made. At less than $2 this is a hard one to pas up.