ING Groep N.V.
Thesis
ING is currently trading at a 10 to 20 percent discount to its net asset value, which is attractive compared to the average premium of companies in the FTSE world index. The bank has a history of reasonable return on equity and is well-capitalized, making it a compelling investment as it shows signs of recovery after a long period of underperformance.
Did it work?
Without specific price performance data or a defined time horizon for the thesis, it's difficult to assess whether the investment thesis has played out. The thesis suggests a recovery and undervaluation, but without knowing how the stock has performed or any developments in the company's fundamentals, we cannot draw a conclusion. Therefore, the verdict is inconclusive with low confidence.
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