Hedge fund manager Phillip Jabre is way more optimtistic about opportunities in Spain and Portugal than most people.
“People are putting too high a probability on risk. They are too scared,” he told Reuters. “It is a dream market for a stock picker. It’s great.”
He believes that “a consensual solution on how to address the debt” in Greece will be reached soon and it’ll lift southern European stocks. So everyone should just chill out with the negativity.
“The closer you get to the Mediterranean coast, the closer you get to hot water.”
“There are very big banks that, because they are based in Spain, Portugal or Italy, people don’t want to touch them. But they are very cheap,” he said.
So people are needlessly freaking out.
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