Sell Banco Santander (SAN)   4 comments

I finally broke down and sold Banco Santander (SAN) from my 401k (long-term) portfolio. My problem is I just don’t feel good about the long-term prospects of Europe. Even though SAN has a well-diversified international portfolio, the majority of their exposure is European. While I love the company, I just see them as too risky for the long-term.

Here is the final (monthly) line on my SAN position, which I sold at $9.02 today.

SAN: -0.03 this month, +0.38 overall to $9.02 (-0.33% this month, +4.75% overall)–bought at $8.64

With the dividend and minus the trading fees, the total return for SAN was 5.09%.

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Posted March 17, 2014 by edmcgon in 401(k), Portfolio Moves

4 responses to “Sell Banco Santander (SAN)

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  1. I own a fair amount of SAN at an average cost of $7.85 and I am holding. On the subject of Europe though, here is a link to an interesting site you might enjoy exploring. http://www.spiegel.de/international/europe/360-degree-panorama-of-luxury-villa-of-viktor-yanukovych-a-959205.html

  2. Wise decision. Europe is too much a gamble if you ask me. Or EU will succeed and there is limited upside, or EU will fail and there is very much downside. And with China having a hard landing, Europe’s engine (Germany) will slow down too. I think Europe has too limited upside to justify the risk. (and yes, Santander has more than just the EU, but it’s not a little part of SAN’s portfolio).

    • Thanks plas. I hated selling it, because I think SAN is a good company in a dangerous situation. Like you said, there’s just too much downside risk to justify the long-term holding.

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