Traders Crying Over Losses Missing HSBC’s Bargains
This article is for subscribers only.
HSBC Holdings Plc, which gets more than half of its revenue from emerging markets, says it’s time to start buying their currencies after a selloff pushed exchange rates to their lowest levels since 2009.
“When others are crying, you should be buying,” David Bloom, HSBC’s London-based head of global currency strategy, said in a Feb. 6 interview in Cape Town. “This is not the time to be bearish. The time to be bearish was a year ago. If you’ve missed that, you’ve missed the boat.”