Guest Post Robert Sutherland Smith: Standard Chartered: Q1 Statement creates fog of uncertainty

Tom Winnifrith Saturday 1 June 2013


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Robert Sutherland Smith is again proving that he is still alive with another guest post. Robert started his City career the year before I was born and is, I think, 157 years old. Fear not. He is very much alive and kicking. He and I have worked together for almost eight years at . He is my friend and he is a very funny and intelligent chap. He is now branching out to celebrate his 158th by doing some freelance writing over  at various places ( including naturally) on FTSE 350 Income stocks. Robert is a speaker at the UKInvestor Show on April 5th 2014. He is a great one for focussing on yield. RSS today looks at Standard Chartered. RSS writes:

Standard Chartered Bank’s (STAN) Q1 statement has brought the thing that  markets most particularly dislike; the fog of uncertainty. And most  particularly, the un-quantified (and thus unquantifiable) kind that the  analytical mind must abhor. The Q1 statement informs us in the most general way  without figures or percentages (the closest we get to arithmetic, are vague  references to such thing as “low/high digit” changes etc) which mean as good as  nothing to the numerate, calculating analyst and reporter. For someone like the  reporter and commentator on the Financial Times trying to put objective  copy together, it is about as insufferably and frustrating a thing as could be  imagined.

It creates the impression that either the company did not know exactly what  had gone on (the least likely  explanation) or knew too well and did not  wish to give it more precise substance? Whatever the reason, it left  commentators without scope for analytical exploration and explanation?


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About Tom Winnifrith
Tom Winnifrith is the editor of When he is not harvesting olives in Greece, he is (planning to) raise goats in Wales.
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