JP Morgan

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  • Oct. 12, 2012
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    Are Banks Turning into Not-for-Profits? Bank Earnings So Far Are Strong

    It does seem like financial institutions, particularly investment banks, seem to stumble from one fiasco to another every few years, ergo the bankers are in need of regulation by “enlightened” regulators....More
  • Jul. 13, 2012
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    JP Morgan Chase's Q2 Earnings Off, Retail Advisory Business a Bright Spot

    Okay, so the London Whale cost the firm $4.4bn, and Mister Dimon says JP Morgan Chase (Ticker: JPM) will "no longer trade a sunthetic credit portfolio and will focus on its core mandate of conservatively investing excess deposits to earn a fair return." And, by the way, though the company posted lousy overall results, the "client-driven" businesses [i.e. NOT the prop trading and the like] had solid performance." (This is from this a.m.'s earnings reports and press release.)...More
  • Jul. 3, 2012
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    Does JPMorgan Push Bank Funds on Its Brokers? Maybe

    A New York Times story published Tuesday suggests that JPMorgan brokers are encouraged to sell proprietary products to their clients, something that is frowned upon by regulators....More
  • Jun. 29, 2012
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    Closing the Barn Door Too Late? Banks Are Healthier Now than in 2007. Yet Moody's Recently Downgraded 17 Banks. Why?

    Banks have more capital than in 2007 and are in general healthier. Yet, like closing the barn door after the mustang has wandered off, Moody downgraded 17 banks. Moody's recent downgrade explained....More
  • May 29, 2012
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    Another Mindless Attack on JPMorgan Chase 1

    This weekend the New York Times reported that regulators were going to investigate JPM’s whale trade. (Fine, but ony if the regulators want to learn something, learn how a bank trades rather than embarking on a witch hunt seeking a scapegoat, a way to criminalize risk taking.) Dick Bove, the outspoken Rochdale Securities sent out this note over the Memorial Day weekend, criticizing the Wall Street Journal over its coverage of the whale trade....More
  • May 14, 2012
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    As JPMorgan’s Derivatives Blow-Up Shows, Trades May Be Difficult to Police in Future

    Just when the big financial institutions were pushing back on the dreaded Volcker rule, JP Morgan Chase blows up 1% of its capital, a miniscule amount, really. The company (Ticker: JPM) is expected to post $4 billion in earnings in its current fiscal quarter. Still, the timing of the trading snafu couldn’t have come at a worse time. See comments from the CFA Institute, who argue this will help prove the case for the Volcker Rule. My take? The regulators can’t stop stuff like this from happening if Jamie Dimon can’t....More
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After 18 months in the industry, all at WFA, I will be leaving the firm. I have not had great success at a wirehouse. It started well in the apprentice period and the first 6 months, but I missed my hurdle at the 9 month mark and have been scraping by ever since. After taking a further look at the requirements for the next 3 years, I realize that my head is going to be on the chopping block for most of that time barring someone in my network hitting the Powerball. I take full responsibility for this, but I will add that my firm has offered me little, if any, support at the local level....More
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