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Strategies & Market Trends : Value Investing

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To: Spekulatius who wrote (53299)	8/8/2015 10:21:06 AM
From: Spekulatius	of 78667

Looking at ITUB once again, pretty good summary here (note also the link to the Morningstar article): blogs.barrons.com So this is a bank trading at 1.4 x book with a 20%+ ROE. 10.5% Tier 1 ratio at current exchange rates. the negative is that Brazilian economy is in a recession and will stay there in 2016 and $40/brl crude. while it seems like they understand the NPL situation very well, a major hiccup (big state company getting into serious trouble) could cause a lot of damage to the Brazilian economy and their loan book. That notwithstanding, it seems like a prudently managed bank that is quite cheap considering the current number. Anybody own this or is looking at the stock?

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