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Tim Travis
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Tim Travis is a veteran deep value investor and money manager. Travis has extensive experience in traditional investments such as stocks and bonds, in addition to having a unique methodology of combining options and distressed investing with value investing to generate income, reduce risk, and... More
My company:
T&T Capital Management
My blog:
T&T Capital Management Blog
  • No 'Major Loss' For JP Morgan This Year, Bove Says 0 comments
    Jun 28, 2012 11:53 AM | about stocks: JPM, C, BAC

    Richard Bove of Rochdales Securities is correct in his assertion that people shouldn't make too much of the trading loss at JP Morgan (NYSE:JPM). Yes it is a significant mistake and should never have happened but JP Morgan has $20-$25 Billion in earnings power. Although I do like JP Morgan here I'm more attracted to Bank of America (NYSE:BAC) and Citigroup (NYSE:C), which are both trading at a bigger discount, and they don't have this massive uncertainty as far as ultimate losses go that JP Morgan has. It probably makes a lot of sense for JP Morgan to come out and comment on the New York Times article that states that the loss has escalated to $9 billion. I sure hope the New York Times is right to put that out there.


    Disclosure: I am long BAC, C.

    Stocks: JPM, C, BAC
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