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Deep yawn at HSBC

By Chris Bailey | Monday 25 October 2021

Disclosure: I have no positions in any stocks mentioned, and no plans to initiate any positions within the next 72 hours. I wrote this article myself, and it expresses my own opinions. I am not receiving compensation for it (other than from ShareProphets). I have no business relationship with any company whose stock is mentioned in this article.

I remember – about 25 years ago – that my first boss told me a story concerning a previous contact of his who had bought shares in HSBC (HSBA) many years beforehand and it had provided a fantastic total return profile for the next few decades. Such is the attraction of thinking a bit like Warren Buffett and spotting an idea that is set to continue to perform well for the next thirty or forty years – and holding on. However, hindsight is easy to quote but harder to achieve. And whilst I have my own list of names I anticipate my pension fund is unlikely to sell its holding in during the rest of the 2020s, unsurprisingly this list does not include HSBC which I dumped about 4 years ago (at an akin share price I had purchased the stock at about 4 years earlier). The ‘Hongkong and Shanghai Banking Corporation Limited’ is a flash name, but despite the rise and rise of Asia over recent decades, any HSBC shareholder will be aware that the shares peaked in the year 2000.

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