@siyul : Some banks trade cheap - e.g. 4-5x earnings/50.5x TBV. Mgt complains about it, but does nothing. It stays cheap. But there is a CHECKMATE move. If mgt commits to a 50% payout via buyback/div, that 10% yield + buyback at 50% off amplifying TBV discount is a force to reckon • TwiCopy

Siyu Li

@siyul

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private investor | ex-NYSE, Bridgewater, Bernstein.
Write "Under The Hood" underhood.substack.com

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linkhttps://underhood.substack.com/ calendar_today25-07-2008 02:25:06

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Siyu Li

@siyul

a month ago

Some banks trade cheap - e.g. 4-5x earnings/0.5x TBV. Mgt complains about it, but does nothing. It stays cheap. But there is a CHECKMATE move. If mgt commits to a 50% payout via buyback/div, that 10% yield + buyback at 50% off amplifying TBV discount is a force to reckon

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