Cheap Financials

The FT has an article about how cheap financial shares are at the moment. Which reminded me about Ariel Funds recent letter to investors, in which they outline why UBS is a good investment.

Ariel Funds estimates UBS’ intrinsic value to be US$94 compared to their purchase price of US$60 and today’s price of US$52.

You can check out more of John Roger’s (founder of Ariel Funds) current investments on Gurufocus.

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