June 2009

Emilio Botín, president, Banco Santander


The basics don’t change.


I have heard recently from many investors and analysts that markets today lack "visibility", that they can’t see much beyond the next two or three months because of the momentous changes we have been living through these last two years. I disagree. I think there are guides to the future, which can be found in the past and the present. What stays the same will be just as important as what changes. To sum up, some things will change but the basics won’t. ...


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