I read an article not that long ago concerning European banks. Unfortunately I did not save the link but what they mentioned were that European banks have for the last 30 years, on average, been trading at a P/B of 1.87. The Swedish banks that have done very well in the past and are currently doing ok are traded at around that level. So it makes sense to and I accepted the article as if it was correct what they stated.
If I accept that that is correct then on the other hand how can I accept that Deutsche Bank is being traded at a P/B of 0.44 today? Especially considering that the two CEO crooks have been kicked out and a news captain is running the show with, by the look of it, an iron fist of justice.
I therefore decided to build up my DB holding and I bought 39 fresh shares at a total cost of 932.2 € which today gives me a total of 280 shares with a full investment of 7,843 € including fees or 28.01 € per share.
If you want to see my current Stock Portfolio then click on the link but the portfolio will not be fully updated until the end of the month.
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