persistentone3

or large foreign operations. Hey Plan. Example of foreign operations might be Portugal Telecom's ownership of a Brazilian wireless vendor. Not crazy about that particular subsidiary, but something along those lines. This place looks better than Yahoo with all of its psychobabble. :) My only complaint so far is the registration process makes a jail breakout from Alcatraz look easy by comparison. But got past that nightmare...

My main problem with Sonae MC would be too much of earnings stream seems to come inside Portugal. If you believe that Portugal will leave Euro, the resulting currency will be worth about 1/3rd of the Euro and aren't most of Sonae's new earning streams in that new devalued currency? How much of the Sonae MR brand is being sold to North America, Asia, and Northern Europe?

Great work Nate and thanks for putting out that list. What I am looking for is a list of peripheral European stocks that get at least 50% of their profits from outside the periphery. In other words I want to find strong exporters in the peripheral European countries. My investment thesis is that when the periphery leaves the Euro - which I think is likely within three years - that these stocks will get crushed as these countries revert to historical currencies. But if the earnings stream is largely exempted from the devaluation (i.e., 60% of the business is in dollars from North America) then those will be buying opportunities shortly after the devaluation occurs. Can you think of any strong exporters in the periphery?