Investment bank research is bad for your health, says one of Asia’s top bankers.
Gary Coull, executive chairman of CLSA, reckons it should still be allowed but only if stamped with a warning like those on cigarettes and alcohol.
“If you can sell cigarettes that kill you with a health warning, I don’t see why you can’t sell stock research with a health warning,” he told a banking forum in Hong Kong. Coull’s caution would read: “Don’t believe anything in this report, it comes from a very biased point of view.
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