VUK 0.74% $4.09 virgin money uk plc

The stress scenario is way out on the teeny percentiles of the...

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    The stress scenario is way out on the teeny percentiles of the probability distribution curve, so indeed very resilient.

    European banks have always been valued at a 20%-30% discount to Australian ones, but that has blown out to over 50%-60% in recent months.

    And I don't think that's purely a function of Australian banks being excessively expensive (I think they are probably fairly valued); instead, its because European banks such as VUK are undervalued.

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