Much as I like a bargain, sometimes you have to content yourself with paying a fair price for a very good business. DBS Group (OTCPK:DBSDY),
the largest bank in Singapore (and ASEAN as a whole), rarely trades at a
significant discount to fair value but the company has been a pretty
solid performer over the last decade even with a major setback during
the global credit crisis. The shares are likewise no particular bargain
today, but I think patient investors can expect a solid high
single-digit to low double-digit annual return over time.
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DBS Group Gives You What You Pay For
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