UBS Analyst Who Predicted China Bank Woes Sees $349 Billion Hole
- Bedford says smaller Chinese banks have a big capital hole
- He issued prescient warnings on the industry’s problems
A pedestrian passes in front of a Baoshang Bank branch in Beijing.
Photographer: Giulia Marchi/BloombergThis article is for subscribers only.
Jason Bedford might be the only person on Earth who reads every line of every financial statement issued by nearly 250 Chinese banks.
His conclusion after completing the ritual for the umpteenth time: the industry needs capital, and lots of it.