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Strategies & Market Trends : Value Investing
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To: MiamiGent who wrote (52412)9/22/2013 2:36:57 AM
From: Spekulatius  Read Replies (1) of 78740
 
FBP is a bank in operating Puerto Rico. The economy down there is a disaster - GNP -5% this year if I remember correctly. That is a bad as the US economy as a whole in 2009. Some Muni debt is yielding close to 10%, if I remember correctly. Owning a bank that does not even look terribly cheap (FBP is trading above tangible book) does not look like a value to me.
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