Darren SissonsBanco Santander Brasil SABSBRSELLJan 16, 2023
Brazilian politics now European banks are moving higher and better to buy than this. Doesn't want Latin American exposure now given the politics in Brazil. In fact, sell and get out of Brazil.
$6 seems to be an old resistance point and maybe new support. It has to hold $6 or it will probably fall to $5.50 and you don't want to see it fall further. But if it bounces at $6, then buy.
The operating environment in Spain is supportive. A well-run, growth bank. Interest rates have bottomed and are moving up. Not banging the table on this, but he likes it long term.
Likes having exposure to Latin and middle America. This one is a good play, but not sure what their exposure is to Greece, Portugal or Ireland in terms of bond holdings.