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People use automated teller machines (ATMs) of Portuguese bank Banco Espirito Santo in downtown Lisbon July 11, 2014.
People use automated teller machines (ATMs) of Portuguese bank Banco Espirito Santo in downtown Lisbon July 11, 2014.
(RAFAEL MARCHANTE/REUTERS)

Why Europe’s banks aren’t so scary

The Canadian fund manager betting big on a European banking recovery isn’t cutting and running after the Portuguese tremors. He’s even more convinced that this is the time to buy.

In January Streetwise wrote about a new fund created by Hamilton Capital, designed to ride the recovery of Europe’s financial system. At its core, the investment thesis was rooted in fundamentals: economic growth was coming back and loan losses were falling.