German Stock Investor
Value, long-term horizon, long/short equity

Borussia Dortmund: Still Massively Undervalued, Despite Recent Events

In my previous article on Borussia Dortmund back in February, I pointed out that the German Football Club Borussia Dortmund (OTCPK:BORUF) is extremely undervalued when compared to the league rival Hertha BSC.

Since that article - less than six months ago - the share price increased by 36% despite a nearly 10% capital raise. This article will outline, that despite recent developments, Borussia Dortmund is still priced well below its peer-group.

(click to enlarge)

source: Yahoo Finance

To start off, let's take a look at what happened in the past six months. The Bundesliga season finished and Borussia Dortmund yet again came in second, thereby securing a precious spot in next season's Champions League, guaranteeing Dortmund another massive...

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