GREK - May Be Time To Re-Think Southern European Narrative

When many investors think of Portugal they think of high public debt and an endlessly sluggish economy. While these are valid concerns, they have become a false narrative that has pushed equity prices far below their fair value. To a certain degree, investors have the same reaction to the words "Mortgage Backed Security" as they do "Buy Portugal, Italy, Spain, and Greece". Investors in the past have been severely burned by both asset groups, but those who have maintained their position after have seen a very favorable risk-reward scenario.

Portugal's single-country ETF is the Global