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HSBC Holdings P L CHSBCPAST TOP PICKDec 05, 2014Stock price when the opinion was issued
As of Jun 18, 2026. Market Open.
HSBC vs. ING. HSBC is a global bank, strong in Asia and the UK. ING is already restructured, more of a retail bank. Neither is expensive. But you can buy US banks at cheap multiples today. US banks are in better shape, more capital, fewer issues to worry about like negative interest rates. (Analysts’ price target is $45.90)
ING vs. HSBC Neither. He won't touch any European bank given negative interest rates. Period. HSBC does a lot of international lending and international flows aren't well-received by regulators; and they lend to the Far East. HSBC isn't a leader in many categories. ING, at least, leads in online banking in Europe, but they have loaned heavily to energy.
(A Top Pick Dec 23/13. Down 2.85%.) Has been a bit of a disappointment in that it has a great yield, but they have been hit by the Hong Kong troubles. He was looking for more money flows to go in to China through Hong Kong, which they are, but are now going through Shanghai. He thinks this just needs to settle out. Well-run company. One of the largest wealth management firms globally.