JPMorgan (JPM) schedules an unusual conference call following the release of its 10-Q filing....

JPMorgan (JPM) schedules an unusual conference call following the release of its 10-Q filing. The lender says its Chief Investment Office (CIO) unit has suffered significant mark-to-market losses. Shares -3.9% AH.

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Comments (9)
  • Whitehawk
    , contributor
    Comments (3121) | Send Message
    Score one for TD/ZH here: Those who booked CDS positions against JPM at the time may see some significant upside.
    10 May 2012, 05:35 PM Reply Like
  • mikoshawn
    , contributor
    Comments (3) | Send Message
    thanks for the link bro...
    10 May 2012, 07:16 PM Reply Like
  • bbro
    , contributor
    Comments (11236) | Send Message
    Doesn't take a Brainaic to figure out what ZeroH said...look at the
    total deposits and total loans,,,
    10 May 2012, 05:57 PM Reply Like
  • bbro
    , contributor
    Comments (11236) | Send Message
    Look out for the litigation side...
    10 May 2012, 06:06 PM Reply Like
  • CautiousInvestor
    , contributor
    Comments (3091) | Send Message
    The 10-Q reveals the firm had losses of around $2 billion in trading synthetic securities, losing $200 million in one day during the quarter.


    The banks argues the CIO is charged with hedging "basis risk, hedge convexity risk and foreign exchange risk."


    In reality though, and as noted by ZH, the CIO is nothing more than a huge prop trading desk that has taken on risky bets and accumulated very large positions that may be diffcult to unwind.
    10 May 2012, 06:11 PM Reply Like
  • Robin Hewitt
    , contributor
    Comments (5633) | Send Message
    "significant mark-to-market losses"


    In other words, "If we ever have to unwind these 'investments', we're hosed"?
    10 May 2012, 06:13 PM Reply Like
  • The Geoffster
    , contributor
    Comments (4297) | Send Message
    The market should soar tomorrow on this news. I can hear the Fed's hard drive cranking out those electronic credits from where I sit in an undisclosed location.
    10 May 2012, 06:32 PM Reply Like
  • David Urban
    , contributor
    Comments (1031) | Send Message


    Great stuff from ZH.
    10 May 2012, 06:38 PM Reply Like
  • sosleep
    , contributor
    Comments (5) | Send Message
    In the 10Q it shows JPM's Securities actually went up though right?
    10 May 2012, 10:12 PM Reply Like
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