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Breakingviews: Imagine a “normal” Barclays

Tuesday, July 24, 2012 - 04:43

July 24 - Barclays is trading at a substantial discount to other banks, but as it makes changes the share price could “normalise” offering substantial gain for new investors say Breakingviews.

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Prime Barclays bank and China and today today's topics and -- is great and he's probably shares languishing behind -- is. But his opportunity this as the team. And that China -- it is not letting politics hold -- its global ambitions with me is Chris -- he got a couple of pieces on Balkans -- The first one by Robert Cole comes with a calculates. -- a what is the opportunity. This is not just about a cheap stall worth buying now as a. Well I Barclays is always on it's on -- nasal it's it doesn't really have any. It clear leadership and then -- And then you see or tenants and -- just. And that you. Well this and it says that there's that's clearly. To promote the big problem with the strategy we what it's going to be but Dustin Johnson and if Barclays became like cameo -- buying kind in a way is that -- -- -- good guesses to where it's gonna have it's gonna have to. Properties shrinking investment banking it's got a good retail -- time is so. A repositioning. Towards the average is probably won't. Humans who wants it and in my case if it was nominees like the average -- You've got tremendous upside meaning if they -- they trust that pain that average bank. Trading on the average PE. War as we thought this was blend that the average -- -- ability -- -- my childhood whose that he has come a ways of people people might look at the stock. If it was yeah yeah the -- yet that you -- the average took place from that those three. Punishments and penalties and you can. You comply with how much you want -- -- -- France it's. So to -- in you'll in the Sampras he hit some pretty substantial upside than that this kind of fun on the day that this kind of who we we come. Crunch about -- -- -- is it gonna get -- I'm negative but I think is important. As you say they are already getting what we have this piece which is sending out things now more ready to me. To the investments that no -- today and for the new management together and that already review being. -- -- back and saying I can't what does this business doesn't have reputation risk is that covering this cost of capital. In if if if it's acceptable we'll keep up and on this fun. This one I hit threats of -- we don't mud -- then nightmares through with this particular exercise both well. United while that may -- what is Baltimore slate from Britain as anonymous known for where it will lead I mean I think it's panic. That the existing management book -- them all -- today. For a -- C. -- that the thought of you that -- you already see that that you know this crisis by his -- is that good our place. For getting on with some good operational. Okay no doubt whatsoever that again I'm trying to arrange not letting politics get in the way of emanate this is on the back of its fifteen billion dollars off for next. News. But as the biggest story and -- it. How well -- full votes. My p.s that -- a bit of a lull -- Chinese on them because that's those changing because -- like him in the Chinese political leadership and they think if your. An ambitious. Executives. There and pricing market will look I'm just gonna appalled that deal for venturaland. Two. Who's going to be in at the end of the telethon and whether they really gonna pre vet and yet what you see is. It's enormous that fanatics that was trying to say is that. In some areas say do it in and the really critical kind of resources and and you areas you know may be actually that feeling is hey look. This is gonna that's gonna fly whoever's in charge. We need resources we need -- -- in perfect wrap these assets. In. And -- market is clearly that trouble right now maybe it's become parents -- -- only consensus. From. From that Collins takes. Impending changes in the Chinese Politburo if you look it's this that this that having it -- Skip Chris many times -- front by those -- -- equals on the breaking news web site. For more insight what's our US breaking news show every day twelfth and he's been 1730 PST. I'm axle problems is --

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Breakingviews: Imagine a “normal” Barclays

Tuesday, July 24, 2012 - 04:43