Can't see any catalyst for a rebound in finance stocks in the near future. For HSBC, they still have US$62 billion of sub-prime mortgage not yet written down or written off. They are winding down Household Finance, which is the company they regret buying.Some HSBC perps are trading at $17, (Issue price $25) i.e. yield over 14%.
>> ... 低處未算低,不要沾手為上呀,I totally agree !!Don't forget NORTEL was at one point almost $125 a share, and when the stock dropped to abt $25 (with a few "deadcat bounces"), many people thought that had to be the bottom price. Those who scooped up the "bargain" are now regretting their decisions. NORTEL went down to below $1.25 a share and is now in the process of "restructuring" (i.e. controlled bankruptcy).(Note: Figures above are approx only, but you get my point)