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CanadianValue
CanadianValue
Articles (4562) 

David Herro of Oakmark Finding Value in European Banks

July 10, 2012 | About:

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 (NYSE: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 - 3 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.

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