If you believe in the first, in the medium term, equities and gold are the place to be.
Debt reduction remains a priority for the group but with strong free cash flow generation and a steady income from disposal proceeds we believe the market will continue to take a more positive view of the medium-term equity accretion.
Dave King, who now owns about 15% of the club and previously made a £16m funding offer, could also provide short-term financing and medium-term equity.
In the board's statement, they revealed that they are looking at a combination of short-term loans and medium-term equity.
Clients may have views on the near or medium term behavior of equity prices, interest rates, or commodities.
That, in turn, should help it achieve its target of a 20% return on equity in the medium term.
"This is likely to comprise loans in the short term and possibly equity in the medium term.
"There can be no bull market in equities in the medium term without a bear market in bonds," the note said.
The banking crisis made much worse a specific, long standing, problem whereby growing – especially medium sized – companies find it difficult to raise long term equity or loan capital in the UK.
Barclay's goal is to increase its return on equity, a measure of profitability, to 13 percent in the medium term, from 6.6 percent last year.
Despite the cost-cutting, some analysts are skeptical that HSBC would reach its 12 percent return-on-equity target, a measure of profitability, in the medium term.
