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  • Report: DOJ wants more than $10B from Citi over mortgages [View news story]
    100% agreed and Citi seems to think the same lets see what the court says.
    Jun 13, 2014. 11:20 AM | 8 Likes Like |Link to Comment
  • Investment Strategies To Beat An All-Time-High U.S. Market [View article]
    Thanks for your view on the technical chart of Intesa Sanpaolo (which is btw the biggest bank in Italy) . Concerning Santander I don’t see it too risky when comparing it with an alternative investment in financials and besides you don’t have to buy everything now . I think if we don’t mess it up in Europe and big countries like Spain and Italy don’t get a haircut on the national debt the level where you can buy Santander now is very very cheap. Can it get cheaper ? Of course but nobody knows and at some point you have to put your chips on the table . Although I like Intesa more(as mentioned before) it think Santander offers really some value at the current price .
    Jul 19, 2013. 06:04 AM | Likes Like |Link to Comment
  • Investment Strategies To Beat An All-Time-High U.S. Market [View article]
    disagree on the santander although i believe its geographically well diversified and the business model seems to work I think for me the big issue is the dividend which is not real since it is paid out of its own stock hence a script dividend . as a German investor this is a problem since I am getting taxed (25%) on something which I never received so for this reason I stoped buying although I believe in the story . Maybe it’s worth taking a look at Intesa Sanpaolo ticker isp less diversity but less leveraged and stronger capital ratios + a good credit quality books but still it’s in Italy .
    Jul 17, 2013. 07:45 AM | Likes Like |Link to Comment
  • Get Yields Of Up To 10% From These International Banking Giants [View article]
    @Caiman
    not just solid they are market leaders in all the markets they operate . BTW they just annouced a deal with Chrysler in which they will replace Ally in the US. For me its a kind of WFC from Europe (but less expensive) active with a brilliant and easy business model in markets i really like . Just 15 % of their earnings are from Spain hence they are getting punished for the wrong reason but there are also some doubts i have.
    A Spanish default on bonos would trigger a huge recap need but since the ECB said they will do whatever it needs it is really less likely . A second concern i have is the good will (write down) on their balance sheet i am not sure how big this impact could be .

    Nevertheless i am very confident that this bet will pay off in the next 3-5 years .
    Feb 7, 2013. 08:22 AM | 1 Like Like |Link to Comment
  • Get Yields Of Up To 10% From These International Banking Giants [View article]
    Honestly the least reason why i am long santander is the dividend. I like this bank for the following reasons
    1. Business model : which is mainly retail banking
    2. Growth strategy : they took over good banks during the financial crisis.
    Poland: San is now a major bank (bought from AIB and merged with KBCs Poland unit )
    Germany : took over GE money bank and retail unit of SEB bank
    USA : took over majority sovereign banc.
    Mexico : took over majority of the business from bac
    Brazil : together with RBS and Fortis ( both broke their backbone) they took over ABN . Which was at a very high price but in contrast to the other 2 banks santander made it much smarter and sold their part of the deal which was a major Italian bank (banca antonveneta) to MPS (which needs now a bailout) for a stupid high price in cash and they keep the Brazilian unit and sold 25% to the public and made even this deal look good.
    3. well management bank
    4. they will be able to ´grow book value once there is some light at the end of the tunnel
    5. i am by far too long that it goes bust :-)
    Jan 31, 2013. 02:47 PM | 1 Like Like |Link to Comment
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