When I see so much unbridled negativity towards a company, which - at first glance - generates some 35% Return on Tangible Equity, and yet is capitalised in the market at something like 14x P/E, my instincts tell me that I should conduct some further research into the company and the industry in which it operates, with the view to buying shares in such a business.
A straw hat in winter, possibly...
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