What’s behind the low valuation of European banks?

Great explanation by Johannes Borgen on Twitter:

In summary: banks are more robust than they used to be, but they have profitability issues.

To learn more about bank stocks, listen to the recent episode of Odd Lots with John Hempton.

See also this thread by Marc Rubinstein:

I also blogged about bank stocks in my 2017 post A lost decade (for bank investors).

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