Good (Bad) Banks and Good (Bad) Investments: At the right price.
Musings on Markets
MAY 7, 2023
An investor who buys a good bank at too high a price, given its goodness, will underperform one who buys a bad bank at too low a price, given its badness. All Equity, All the time! With most non-financial service businesses, you face a choice in how you approach valuation.
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