Two sharp investors recommend HSBC Holdings


With market volatility jumping up in China, it might provide a good entry point to get into HSBC Holdings ADS (NYSE: HBC), the old Hong Kong Shanghai Bank.

David Herro, the long-time successful international fund manager at Oakmark, recommended the stock a few weeks ago in Barron's at $89 per share. The stock is now down to $86 on yesterday's global sell off. Herro liked the stock as a more conservative play on Asia and its many emerging markets.

Chuck Allmon, long-time investor and publisher of Growth Stock Outlook investment newsletter, also likes HSBC. In an interview with Kate Welling at Welling@Weeden, Allmon mentioned he liked the world's fourth largest bank because it has balanced exposure to North America, Europe and Asia. Allmon also liked HSBC's 4% yield and only 11x earnings valuation.

As the lemmings panic over a much needed correction in China, yesterday's sell off provides the level-headed investors with an opportunity to get into this stock.
Symbol Lookup
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DJIA+75.9512,877.18
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S&P 500+8.731,351.37

Last updated: February 13, 2012: 02:23 PM

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