Banco Santander, Spain and the PIIGS
Maybe my pitch should have been a blog =)
So here goes:
Good solid bank and pays a nice yield. It’s been hit hard by the European banking crisis. I think Spain will be the last of the PIIGS to have their hand out and even perhaps won't need a bailout.
Besides, American banks got bailed out and the ones that did have survived and their stock prices have appreciated (every single one of them) and at the cost of the tax payer and I’m one of them. I also own shares of one the bailed out banks. So, I paid taxes to make money to pay taxes – go figure.
The bottom line is.. Europeans need banks just like everyone else in the world. Face it, the Euro isn’t going to crash and burn, but, the Euro crisis (is) in full tilt. I’d have to admit – STD would be hard to buy in RL. So, I’m playing this one in caps only “for now”. They shall survive - at what cost is the real question.
I roll my eyes at times; unless these European banks don’t get nationalized you’re going to make money. IRE and NBG will probably
be good examples or European stocks in general.
My PF crumbled over are own banking crisis so I gambled big time in 09 when the market was down. Gees, my mouth is still watering wishing I had another chance at certain stocks or more funds to invest. What a rush - millionaires became billionaires in 09. So, what’s stopping the same thing from happening over the European crises because I’m all ears? (Making funds).
I think it’s just another mouth watering investment opportunity instead of some global melt down.
Just my two cents