HSBC's dull strategy is working, but the markets aren't cheering

BANK 1ST HALF EPS 2001 2001 VS. 2000 SHARE PRICE*

HSBC -4.8% -17.93% CITIGROUP +2 -0.44 J.P. MORGAN CHASE -46 -5.85 MORGAN STANLEY -32.3 -21.55 MERRILL LYNCH -34.2 -18.27

* As of 8/7/01

Data: Bloomberg Financial Markets, HSBC

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