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Deutsche Bank: This Time Is Different With A Credible Turnaround Story

Siyu LI profile picture
Siyu LI


  • Deutsche Bank is priced as if its restructuring efforts will fail like before while its turnaround story is well underway.
  • I break it down by its four core businesses and highlight its stunning progress made since the restructuring plan kickoff in 2019.
  • Deutsche at its current price is a strong buy.

Deutsche Bank Building Frankfurt Germany
Photo by AM-C/iStock Unreleased via Getty Images


As one of the 9 Bulge Bracket banks, Deutsche Bank's (NYSE:DB) peanut-size market cap ($25B, a ~5% of JPMorgan (JPM) as of 3/31/21) and trading at 40% Tangible Book Value piqued

Data by YCharts

This article was written by

Siyu LI profile picture
I am a fundamental-driven analyst. I read sec filings/call script/ppt, study competitors, try out products, keep track of key personnel - leave no stone unturned to build rock-solid convictions. -------------------------------- I look for 3 types of companies. Misunderstood underdogs - power players mispriced for wrong reasons. Some past picks include H&R Block ($HRB)Turnaround stories - they failed before, hated, and still being ignored by investors, despite coming back like a champion. Recent picks include: Deutsche Bank ($DB), and United Natural Food ($UNFI)True innovators - they are category creators and pioneers, they grow where innovation thrives. Past picks include Roku ($ROKU). --------------------------------I am a generalist and am aware no matter how much I study a company, there are always investors out there in the SA community, who know a lot more than I do. They keep me stay humble and stay hungry. --------------------------------I am a practitioner of Ray Dalio's principles, an admirer of Peter Lynch's pragmatic style, and a follower of Howard Marks' wisdom.

Analyst’s Disclosure: I am/we are long DB. I wrote this article myself, and it expresses my own opinions. I am not receiving compensation for it (other than from Seeking Alpha). I have no business relationship with any company whose stock is mentioned in this article.

Seeking Alpha's Disclosure: Past performance is no guarantee of future results. No recommendation or advice is being given as to whether any investment is suitable for a particular investor. Any views or opinions expressed above may not reflect those of Seeking Alpha as a whole. Seeking Alpha is not a licensed securities dealer, broker or US investment adviser or investment bank. Our analysts are third party authors that include both professional investors and individual investors who may not be licensed or certified by any institute or regulatory body.

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