Friday, 23 November 2007

Knight Vinke won't leave HSBC alone

I hate to see a big bank like HSBC being picked on by a small activist investor like Eric Knight. It's not fair, is it? Eric's investment fund Knight Vinke controls less than 1 per cent of HSBC's shares. Eric has made new allegations. He says HSBC has been misleading its shareholders. Apparently, the directors of the bank are getting a pay and perks plan that is based on very low performance targets.

Well, what can HSBC do about this? It has to be something legal. I have just spent the whole morning perusing Magnus's Book of Money Curses, and I have found one curse that the bosses of HSBC might find useful. I have had to adapt it a little bit, but it goes like this -

O Knight Vinke, O Eric, lord of the delirious activists, give up your evil ways, and leave HSBC in peace. They are only harmless bankers. Why do you persecute them? Stop now or face the consequences. I will unleash all the dark angels of hell if you do not desist. Demon fire will fill your heart, and you will know the pain of the desolate one. End this war. End it now.

If this doesn't work, I don't know what will. If you want to help HSBC in its struggle, I urge you, dear reader, to recite this curse over and over. Also, tell your friends. The more people we can get involved in stopping Knight Vinke, the better.