The Swiss bank Credit Suisse Group (NYSE: CS) has really struggled this year, with the stock now trading down close to 60% and hitting all-time lows.

Credit Suisse has been closely associated with several scandals in recent years and now must put together a transformation plan, which could involve raising capital at a distressed valuation.

Still, one might argue that a lot of the bank's troubles have been priced into the stock, which trades at about 26% of its tangible book value, or net worth. That means you can buy a share of Credit Suisse for 26 cents on the dollar, and if the bank can turn things around, there could be a lot of upside ahead. Given this absurdly cheap valuation, is Credit Suisse stock a buy? 

Continue reading

Source Fool.com