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We'll Tell You When It's Time to Tap Tesla

A week ago today, in a strategy story aimed at helping you survive and thrive in today’s whipsaw markets, Chief Investment Strategist Keith Fitz-Gerald told us to put Tesla Motors Inc. (Nasdaq: TSLA) on our “watch lists” for a likely future purchase.

“BP, Tesla is a definite ‘shopping list’ stock,” Keith told me back then. “We’ve been nibbling at it here, and have played it successfully several times. But it’s not yet at the point where I’m ready to jump all the way in. I think my rationale behind Tesla remains upbeat. I mean, you’ve got a real winning combination here – a disruptive sales model, a CEO who’s the most innovative guy on the planet, all the capital in the world that can be brought to bear. I don’t give a rat’s [tail] that New Jersey won’t let the company sell its cars there. There are much bigger opportunities. Wait ’til you see what the company does with China.”

Sometimes I think Keith has a “crystal ball” in his hip pocket…

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    HSBC Fine for Money Laundering is Largest Bank Penalty in U.S. History

    The HSBC fine for money laundering charges reached a record $1.92 billion as Europe's biggest bank settled charges in an agreement with the U.S. Justice Department.

    The fine is the largest penalty ever imposed on a bank from the Justice Department.

    The Justice Department had accused HSBC Holdings PLC of illegally laundering money for Mexican drug cartels and with violating sanctions by doing business with countries including Iran, Cuba, Libya, Sudan and Myanmar, according to Reuters.

    In a statement, HSBC Chief Executive Stuart Gulliver said: "We accept responsibility for our past mistakes. We have said we are profoundly sorry for them, and we do so again. The HSBC of today is a fundamentally different organization from the one that made those mistakes."

    Under new senior leadership over the past two years, Gulliver said, "we have been taking concrete steps to put right what went wrong and to participate actively with government authorities in bringing to light and addressing these matters."

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