+ Watch SAN
on My Watchlist
A financial group operating principally in Spain, the United Kingdom, other European countries and Latin America, offering a range of financial products.
Closed and re-opened to more accurately reflect my actual start price.Bought more on this "Cyprus Overshoot", and have all I want for now. There has been a lot of "negative speculation" about Spanish banks lately, but SAN and BBVA are "solid" and in no danger of getting nationalized. SAN took care of the majority of their loan loss reserves on their Spanish real estate in 2012, so should not have any big surprises relating to capital adequacy coming up.Spain itself will continue to have "challenges" in the intermediate term, but are not about to do what Cyprus had to do, which was due more to the fact that their "banking system" was very "oversized" in comparison to their economy (which of course had major problems of its' own). In the intermediate term SAN could have some more ups and downs, but in the longer term will likely be a multi-bagger from here. JMO and worth exactly what I am charging for it.
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