HSBC: Resilient Profitability Supports A Premium Multiple

Core Viewpoint - HSBC shareholders are currently benefiting from strong profitability and a significant re-rate in the market, with shares returning approximately 60% over the past year [1] Group 1: Company Performance - HSBC's profitability remains robust, contributing to its strong market performance [1] - The bank's shares have been standout performers, reflecting a positive market response [1] Group 2: Investment Strategy - The investment approach favors a long-term, buy-and-hold strategy, particularly in stocks that can consistently deliver high-quality earnings [1]