Is CYBG drool-worthy?

The demerger of UK banking group CYBG plc from National Australia Bank ticks a lot of boxes for the value investor.

In the 1890s Russian physiologist Ivan Pavlov investigated the topic of dog salivation (presumably he didn’t get out much). Pavlov discovered that an external stimulus – such as a ringing bell – could cause a dog to salivate if it had previously associated that stimulus with being fed.

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