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Sep 30, 2001

Putting a sell on hold

An honest recommendation

It really is little wonder that investment research is lacking in credibility. Try explaining to a novice that when an analyst puts hold on a research note, more often than not it actually means sell. 'So why don't they just say sell in the first place?' 'Because,' you reply with a patronizing chuckle at the ridiculous naivete of your student, 'being so upfront would risk offending the companies that they are independently analyzing.'In such circumstances, HSBC's recent announcement that it

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Richard Carpenter

Covering investor communications, sustainability and employee engagement, Richard Carpenter has worked with the likes of Aviva, Facebook, Alibaba, HSBC and the London Stock Exchange. Before joining Bladonmore, he was CEO of MerchantCantos, part of...
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