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SCGLY - Deutsche Bank Societe Generale Bradesco: The Market Gods Are Crazy The Banking Paradox
Societe Generale ADR
The music and dancing do stop at some point
Right now, I think the market Gods have gone a bit nuts. Such nuttiness is being seen across many assets, such as the euphoria around U.S. tech companies. Or in things like American Tower Corporation (AMT) being worth 9-12x Mobile TeleSystems (MBT), on which I wrote recently.
Today, I'm bringing yet another instance of such craziness, which can obviously have investment consequences. This time, it's about banking. More specifically, it's about a Brazilian bank, compared to a couple of European banks.