Jan 7, 2019
Barclays: Ed the Shred
Edward Bramson's broadside against Barclays, via an investor letter, takes him no further than a bearish scribe, give or take a 5.51 per cent exposure to the UK bank via shares and derivatives. Mr Bramson is following the same modus operandi with Barclays - criticise returns and seek a board seat. Mr Bramson points out that the returns produced by Barclays' investment bank are dire. Barclays matters enough to the UK for Mr Bramson to offer a detailed public plan as the price of applying for a board seat. The bank's tactical weakness is that Mr Staley, as a champion of investment banking, looks like the wrong person to implement a plan if it has merit.
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