GuruFocus Premium Membership

Serving Intelligent Investors since 2004. Only 96 cents a day.

Free Trial

Free 7-day Trial
All Articles and Columns »

David Herro of Oakmark Finding Value in European Banks

July 10, 2012 | About:
CanadianValue

CanadianValue

210 followers
Finally! Someone dumpster diving and buying European Banks.

You know there are home runs to be had. But you know there is massive capital destruction to be had as well.

- Herro doesn’t believe the European banking sector is going to be destroyed for generations.

- This is what value investing is all about.

- Holds Credit Suisse (CS), Lloyd’s (LYD) and Banco Santander (STD).

- Credit Suisse is selling at lows not seen since the financial crisis, despite having a very strong balance sheet.

- Banco Santander is guilty for being based in Spain; reality is that it has more diversified operations.



About the author:

CanadianValue
http://valueinvestorcanada.blogspot.com/

Rating: 2.3/5 (8 votes)

Comments

superguru
Superguru - 2 years ago
he has been saying that for over a year now when prices were double from now. May be it is now time to listen to him.

one thing i found is gurus are always early. I wait to buy at least 20% below their buy price. that gives margin of safety.

Please leave your comment:


Get WordPress Plugins for easy affiliate links on Stock Tickers and Guru Names | Earn affiliate commissions by embedding GuruFocus Charts
GuruFocus Affiliate Program: Earn up to $400 per referral. ( Learn More)
Free 7-day Trial
FEEDBACK