This is insane... A safe near 12% dividend yield at this price.
What happened to the guy called Barbershores? He always had great insight on FRO.
I completely agree. Cash flow is the key...
Also SAN has significant emerging market exposure which hasn't done well this year so far. I'm continuing to hold long term. All this will pass and its a well run company which fared far better than other banks during the financial crisis.
There has been a recent management change, which from what I have read, caused Morningstar to upgrade it.