Page 54 - Flip Banks TG

Tiger Global, which bought $1 billion of Barclays stock in

November, may see the bank as a bargain - whether Staley

and his team can fix the investment bank or not. With the

shares/stock trading at about two-thirds of the book value

of the company’s assets, they’re betting its valuation can

improve.

Barclays generate a lot of cash, and at some stage their

legacy legal issues will be sorted out.

“If Staley can grow market share in the investment

bank, that’s a bonus on top, but we’re not counting on
it.”