2024-09-13 13:43:29
David Asherkoff. This is the name of JP Morgan’s chief analyst for the region of Central & Eastern Europe, the Middle East and Africa, who has caused a sensation in Greece, repeatedly arguing against the Stock Exchange’s upgrade to the category of Developed Markets.
The American analyst’s first bell “rang” last March, when he argued against the upgrade of Athens, while this week he came back, warning with the following sentence: “Don’t let a bad idea ruin a good stock market.”
According to the experienced analyst, a possible return of Athens to the Developed Markets will “scissors” the flows of investment funds, given that the A.A. will constitute the smaller market in MSCI Europe.
Certainly, there are many who strongly disagree with the above position, promoting the positive benefits of a possible one return of the Stock Exchange in Developed Markets.
What is certain, however, is that this is an issue that is quite similar to the well-known Greek dipole… “first in the village or last in the city”.
The path to JP Morgan
In any case, the American analyst is no accident, as he works at JP Morgan for about 14 years, having assumed the post of strategic analyst for the CEEMEA region, as Central & Eastern Europe, the Middle East and Africa is known.
A graduate of his University Columbiabegan his career in finance at a relatively young age, “getting” a job at the famous First Boston της Credit Suisse. There, in fact, he assumed the position of analyst for European shares.
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In 2003 he participated as a founding partner in the hedge fund MT Thalerin 2006 he was hired as a senior trader by BNP Paribaswhile in 2008 he switched to Renaissance Capital of Moscow, where he mainly dealt with the derivatives market and Russian stocks.
In 2010, he took the big step and joined her team JP Morganthrough which it was made also known in Greece.
The prestige
Whether he is right about the utility of upgrading in Developed Markets remains to be seen in practice, if and when the relevant authorities decide on the coveted upgrade of the Athens Stock Exchange.
However, we must not forget that the return to the “big” markets, above all else, is also a matter of… prestige, given that we are the unique country in the Eurozonewhich even today remains outside the Developed Markets.
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(The above is the product of journalistic research and does not constitute an invitation to buy, sell or hold any stock)