Sebastian

Warren Buffett Likes Germany, and So Do We

Hi Martin,
Beeing a German investor I would recommend you to take a closer look at Commerzbank - like Deutsche Bank it's one of the DAX30 enterprises. Commerzbank is a big player in German residential and commercial loans with low exposure to US-subprime issues. The current valuation is even more conservative then Deutsche's. It's selling at a 5% discount on book and yields a nice dividend of nearly 5%. In my oppinion Commerzabnk could easily earn a 15% return on equity in more stable global banking environment.