June 14, 2012
Some say sell the euro, some buy. But one thing investors do agree on: Sunday's elections in Greece are priming financial markets for a whole new round of turmoil.
The elections, which political analysts say could determine whether Greece stays in the euro zone, are pushing investors into unfamiliar territory. And their strategies for investing over the next few days vary widely. Some are even taking their bets off the table altogether, waiting for the disruption to blow over.
One operator of a currency-trading platform catering to retail investors, Oanda Corp., is shutting down for part of Sunday, saying it is worried that the election poses too much of a risk to its customers.
"In terms of the euro-Armageddon scenario, there's no historical precedent," said John Bearman, chief investment officer of Thomas Miller Investments, which has more than £2.7 billion ($4.2 billion) under management. The firm is avoiding most European stocks in favor of emerging markets and the U.S. "The market is really struggling to decide and to know what to do," Mr. Bearman saaid.
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