Why HSBC is not the horse you want to bet on: Saxo Bank's Peter Garnry VIDEO: HSBC has been trending downwards over the past two years with highly volatile...

Why HSBC is not the horse you want to bet on: Saxo Bank's Peter Garnry VIDEO: HSBC has been trending downwards over the past two years with highly volatile performance, and Saxo Bank Head of Equity Strategy Peter Garnry is worried. HSBC posted results earlier this week, announcing a large surprise fall in profits. Garnry attributes its high volatility to its revenue base, which is primarily from Asian and other emerging markets. Garnry also notes HSBC has suffered from loan loss provisions and as a global bank, there is a lot of pressure from regulators for HSBC to hold more capital. Finally, he concludes it is not the horse you want to bet on, believing other banks with a smaller focus will do better, such as Australian, US and Canadian banks with domestic exposure. (VIEW LINK)