They say that the time to buy is when the last bull has become a bear. When shares in Royal Bank of Scotland (LSE: RBS)(NYSE: RBS.US) rise on a bad news day, I wonder if the fundamentals are underpinning the share valuation.
What’s the big deal?
Another PR disaster hit RBS full in the face this weekend. Vince Cable, the government’s Business Secretary, has complained to regulators over claims that RBS has been opportunistically foreclosing on businesses that were in default.
Fully aware of how popular nasty bank stories are, the media has been reporting this news as though RBS…