Robert Sutherland Smith is again proving that he is still alive with another guest post. Robert started his City career the year before I was born and is, I think, 157 years old. Fear not. He is very much alive and kicking. He and I have worked together for almost eight years at t1ps.com . He is my friend and he is a very funny and intelligent chap. He is now branching out to celebrate his 158th by doing some freelance writing over at various places ( including Shareprophets.com naturally) on FTSE 350 Income stocks. Robert is a speaker at the UKInvestor Show on April 5th 2014. He is a great one for focussing on yield. RSS today looks at HSBC. RSS writes:
The two big relative attractions of HSBC (HSBA) as a bank are its recent historic steadfast holding to its culture and its subsequent capital strength. The culture enabled it to steer the ship without tax payer help through the storm of the banking crisis. It also persuaded the US Justice Department to keep a recent fine it imposed of $1.3 billion for money laundering, at the lower end of what was allowable, because it concluded HSBC management had the right attitude. No need, as at Barclays, for an internal moral rearmament campaign to return it to a more overtly ethical approach to business in the new post Bob Diamond world. At HSBC it seems to have survived like DNA in the corporate fibre.
on TradingResearchPoint | Comments