Thanks John. Given your knowledge of the names, why is Paragon (that itself trades at a cheap valuations) trading at a substantial premium (40% in terms of P/BV) to OSB? Is it because the market sees its loan book as structurally better? OSB's balance sheet is also very strong and leverage concerns cannot be the reason.
Thanks John. Given your knowledge of the names, why is Paragon (that itself trades at a cheap valuations) trading at a substantial premium (40% in terms of P/BV) to OSB? Is it because the market sees its loan book as structurally better? OSB's balance sheet is also very strong and leverage concerns cannot be the reason.
Thanks!