How much does Nuke crisis in Japan have to do with recent price decline???
I'm new to HSBC. How much do others think the nuke crisis in Japan has to do with HBC's recent decline from near $60 to $50? Is it overall economic uncertainty in the region affecting HBC's share price or is there something specificially wrong with the bank? A 4.8% yield looks good assuming it's safe. A recovery in the share price to $55 seems likely in the near term assuming things stabilize in Japan.
Wow, I have not checked in on this board in a while, and what a surprise. Reads like a bunch of real nerds talking to each other. One nerd even says Management at HSBC is a bunch of "goons". What a fearless post! I guess I will just have to wait for the "repeater" jbeem or "Elmer Grantry" Mo to give me some entertainment on this board. Otherwise, it is a big dull!
I was indeed a goldbug for around 10 years. Once I gave up that idea gold dutifuly started to rally! It just took a long time to shake me out.
I like HBC for its dividend and a 10% to 15% move from current levels. It seems to trade in a $10 channel whether trending higher, lower or sideways. Over the long run I expect it to trend higher. In the mean time I get paid well to hold the shares with a 4.6% yield at current prices.
Congrats on your position build over time. That's the way to become rich. It sure isn't through day trading!
Congratulations! I think you made a very smart move buying into HBC at 50+. I wish I had added shares at that price.
I came across the confirmation slip of my original purchase of HSBC: 3000 shares of hong kong shanghai bnk adr at 0.95. Dated 11/13/1987. That was before they restrucdtured the ADR to its present form.
The orig 3000 shares have morphed into 600 shares of HBC bought at about $5. I have added many more shares at much higher prices but my avg price is about $26+. So I think HBC is a good stock. It had its ups and downs but is relatively safe. Preferred stock may pay a better dividend but I like the potential appreciation of the common stock. It's a matter of preference (pun not intended).