Saturday, June 16, 2012

Fund Manager Makes $1 Billion Bet This Whole Eurozone Thing Works Out

HuffPo writes: Someone call Michael Lewis! As investors the world over are running away from all things Europe, some guy is galloping right toward it.

Sure, Spain just accepted a 100 billion-euro bailout from the European Union last weekend in an aim to recapitalize its failing banks, a move that some have already argued is certain to fail. And sure, Greece’s national elections on Sunday may send the global economy into a complete tailspin if the country’s voters elect the leftist.

But Chicago-based fund manager David Herro isn't too concerned! He has more than $1 billion invested in European banks, Fortune reports. Over the past two years, Herro has even grown his stake in banks like BNP Paribas, the Bank of Ireland and others, all at at a time when Europe’s economy is going to hell -- particularly its banks….

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