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"I'm not going to spend any time on the trading loss," says Hedgeye's Josh Steiner. "What...

"I'm not going to spend any time on the trading loss," says Hedgeye's Josh Steiner. "What matters here is the ongoing deterioration in JPM's core business." The most basic item for a bank: Net interest income of $11.3B was off 5% Y/Y. Gleamed from the conference call is raised guidance on expenses - "they can't get their costs under control." (see also)
Comments (3)
  • To pay a 1.20 dividend they have to make 4.6 billion in net income..
    they can do that..at 1.2 dividend if stock price is 35..3.43% dividend...
    13 Jul 2012, 09:02 AM Reply Like
  • Very myopic view from Hedgeye ,

     

    Business loan originations +14%, mortgage originations +29%, credit card volume +12%, commercial banking +16%

     

    JPM stock is up 8% ytd not including dividends , even with the sell-off in May and huge losses on synthetic securities
    13 Jul 2012, 12:12 PM Reply Like
  • This is a signal that JPM has hit bottom.
    13 Jul 2012, 05:18 PM Reply Like
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