Okay so this one is a little different. Over the weekend, an article popped up on my Google feed with the title “OCBC is cheap (undervalued) at $32.27. Not Kidding.” Now OCBC is my biggest bank position, so naturally I wanted it to be right. I mean, why would I not want this position to double from here. But wanting something to be true is not the same as it being true, so I sat down and ran the numbers myself. And I wanted to share the numbers with you guys – whether OCBC is truly undervalued. In this article, I wanted to discuss:

• What does the article actually argue?
• What does an objective, first-principles look at the numbers say?
• Would I add to OCBC at S$32, and what am I doing with my own position?

What the article argues – 6 reasons OCBC is still undervalued at S$32 To be fair to the author, it is a well-argued piece....