The following transactions highlight the oft spoken phrase that the banks have money for their core clients, which tend naturally to be large transparent highly capitalized corporates. While we cannot quibble with the rush to safety in an effort to minimize risk, this trend is transforming the nature of the business, which was built on risk taking entrepreneurs, who not only knew ships, but understood and played the markets. By allocating capital accordingly the banks are changing the fundamental nature of the business from entrepreneurial to corporate. We are not sure if this is good or bad; time will tell.
This is only an excerpt of The Rich Get Richer – Liquidity Abounds for Some
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Tags: · Angeliki Frangou, EFG Eurobank Ergasias S.A., Navios, Navios Maritime Acquisition Corporation, Navios Maritime Holdings Inc., Ship Finance International
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