After seeing southern European economic decline, he began to look at companies in the area to invest in. On a trip to Greece, he inquired about the government's financial statements; after hearing they did not assemble these statements, he began researching spending and debt ratios of the country. He noticed a difference between the reality of its economy and accounting figures prompting him to begin purchasing government bonds in June 2013 following the country's 2012 legislative elections. Kazarain did not disclose why he was buying these bonds to the Greek government or how much he was purchasing. His initial billion was purchased at 11 cents a bond, eventually concluding at 45 cents. The bonds would go on to be priced at 57/cent a share, marking considerable profit. Although Kazarian would only go on to execute $3.8 billion in bonds, he has insinuated that he has nearly $4 billion in his aggregate bond portfolio.