Jacob Steinberg
Long only, deep value, growth at reasonable price, carmakers

I Would Be Cautious With JMP Group

JMP Group (NYSE:JMP) is an investment bank that offers investment services and asset management. It was founded in 1999 and became a publicly traded company in 2007. The bank currently trades for a share price just above $7.00 which gives it a market cap of $159 million. The bank's current valuation is pretty close to its 52-week high, which stands at $7.37 per share.

The bank has an interesting business model. It offers research on select stocks, brokerage services and alternative asset management along with other financial products. More than 50% of the company's 221 employees are either "directors" or "managing directors" which means they are able to make key decisions in their day-to-day tasks. It's also important...

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