I think it is time to buy in Europe: which
- it is far enough from US Subprime troubles,
- has a more reliable currency
- does not have the unbalance of US Economy (importing and consuming too much) or of Asia (consuming too little, exporting too much and at risk if US customers cut spending.
Hopefully I found a way to get a bargain and still play safe on my monthly stock investment.
Intesa San Paolo is Italy’s largest bank,
- did not have anything to do with US sub-prime chaos,
- has good numbers,
- is first among the “Dogs of the Eurostoxx 50”
- offers 7% Dividend yield that should be sustainable in the long run.
- has a honest P/E around 11.5
- Analysts seem to estimate growing earnings and sales for 2008
A clear buy for me. We’ll see what happens.
I got 200 Intesa San Paolo (BIT:ISP) shares at EUR 4.865 spending a total amount of EUR 973.
We, the people love dividends, and, who knows, recession fears may melt down and Intesa may hit my 40% target even before paying its first dividend 🙂
BUY, SELL, KEEP 
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