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TMFAleph1 (94.96)

The 5 European Banks You Should Be Looking At Now

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June 12, 2012 – Comments (4) | RELATED TICKERS: SAN , BBVA , UBS

The 5 European Banks You Should Be Looking At Now

4 Comments – Post Your Own

#1) On June 12, 2012 at 6:41 PM, Teacherman1 (58.16) wrote:

And here I thought you were talking about my 5 favorites:)

STD (SAN), BBVA, LYG, UBS and IRE

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#2) On June 12, 2012 at 8:32 PM, TMFAleph1 (94.96) wrote:

With the exception of LYG -- which I just don't know anything about -- I think all of those are potentially interesting right now.

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#3) On June 13, 2012 at 12:11 PM, Teacherman1 (58.16) wrote:

Correction, UBS should have been BCS.

 LYG is one worth looking at. They got "whacked" due to an ill advised takeover of HBOS, with GOVT encouragement, which did to them what BAC's takeover of Country Wide did to them.

They were on their way to working back to profitability, when they got caught in the PPI (protection insurance, like the U.S. banks used to do with Credit Life, before they were made to stop) and had to take a big hit on that, along with BCS and others.

They have also been required to dispose of a big chunk of their branches by the UK Govt, to encourage more competition. They are in the process of doing that, but it has not been finalized.

They will trade in a range for a while, but over the longer term, they will do just fine, and will be a multibagger.

JMO and worth exactly what I am charging for it.

They banks you listed are solid, but are more like "bonds" imo, and while you won't lose on them, they don't have as much upside as I want to make it worthwhile.

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#4) On June 14, 2012 at 1:14 PM, Teacherman1 (58.16) wrote:

Here is a link to a post by MarketWire, as shown on Yahoo Finance.

http://finance.yahoo.com/news/spain-auditors-estimate-lenders-60b-063353042.html

According to this information, SAN(STD) and BBVA, are among 5 banks in Spain, which will NOT need any aid.

This is in line with what the IMF has been saying.

I have no opinion on the other 3 mentioned, but am long on SAN and BBVA and will continue to be.

They will have some problems, but are good, solid international banks with a great upside potential.

JMO and worth exactly what I am charging for it.

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