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Jamie Dimon picks up 500K shares of JPMorgan Chase (JPM) - about $17M worth - according to a...

Jamie Dimon picks up 500K shares of JPMorgan Chase (JPM) - about $17M worth - according to a late-Friday filing. The moves (by Dimon and his wife and associated trusts) come in combination with selling about $13.5M worth of preferred shares.
Comments (28)
  • deercreekvols
    , contributor
    Comments (5143) | Send Message
     
    No doubt somebody will say how much they respect Mr. Dimon for "putting his money where his mouth is." It seems that he spent $3.5M on JPM stock, when the buy is figured with what he sold.

     

    Public Relations move, in my opinion. Let all the JPM longs know that you are "with them" by buying shares. Not a bad move, but certainly a PR move.

     

    Give me an update on the Libor investigation or the class-action lawsuit that was brought by Louisiana, Ohio, Oregon, Arkansas, and a Swedish pension fund. Where is the Market Current on that?

     

    Will Market Currents be covering all insider buys and sales for every CEO or is this just done for Mr. Dimon?
    20 Jul 2012, 08:43 PM Reply Like
  • Maninder Batra
    , contributor
    Comments (572) | Send Message
     
    I totally agree with you .Recently a person I know who was given a pink slip from JP Morgan's division in Mumbai told me that the losses of JP morgan are more than the official 2-3 billion$. Its atleast 10 times the official number according to him which would put it in a magnitude of 20-30 billion$.Another analyst I know at globaldata says its 8 billion $ atleast.

     

    Seriously,I don't know what to believe about the wall street banks these days.
    21 Jul 2012, 02:11 AM Reply Like
  • Daniel Radakovich
    , contributor
    Comments (545) | Send Message
     
    Never take a hint or a tip from someone, do your own research. Please spare the intelligent investors.
    21 Jul 2012, 03:26 PM Reply Like
  • mikety
    , contributor
    Comments (32) | Send Message
     
    Follow the leader, he must know something right, that we dont know.
    20 Jul 2012, 08:56 PM Reply Like
  • deercreekvols
    , contributor
    Comments (5143) | Send Message
     
    It is a safe bet that Mr. Dimon knows plenty about JPM that we don't know.

     

    Follow the leader at your own risk.
    20 Jul 2012, 09:10 PM Reply Like
  • bklyn225
    , contributor
    Comments (36) | Send Message
     
    Duh! $8 Billion of trust preferreds were redeeemed on the 17th. He re-invested in the common stock. Good move!!
    20 Jul 2012, 09:45 PM Reply Like
  • seethrudanoise
    , contributor
    Comments (87) | Send Message
     
    http://bit.ly/SMqznO
    20 Jul 2012, 10:51 PM Reply Like
  • mekats
    , contributor
    Comments (102) | Send Message
     
    seethru - how is your URL reference relevant to this post. Wasn't clear to me?
    22 Jul 2012, 04:51 PM Reply Like
  • phxcrane
    , contributor
    Comments (415) | Send Message
     
    Humans it seems always need a bad guy to explain why they are not doing as well as they think they should.
    20 Jul 2012, 09:46 PM Reply Like
  • Tack
    , contributor
    Comments (12726) | Send Message
     
    phx:

     

    In a single short sentence you have spoken profoundly.
    21 Jul 2012, 01:07 AM Reply Like
  • surfnspy
    , contributor
    Comments (415) | Send Message
     
    Thank you!
    21 Jul 2012, 02:47 AM Reply Like
  • BlueCollarBlueDog
    , contributor
    Comments (94) | Send Message
     
    He wants the votes. Insecurity in the tower?
    20 Jul 2012, 09:55 PM Reply Like
  • Matthew Lewis
    , contributor
    Comments (317) | Send Message
     
    500k shares out of 3.8 billion outstanding. Good call on wanting the votes.
    20 Jul 2012, 11:33 PM Reply Like
  • BlueCollarBlueDog
    , contributor
    Comments (94) | Send Message
     
    They could be the difference under a DoL investigation.
    21 Jul 2012, 09:23 AM Reply Like
  • divinecomedy
    , contributor
    Comments (466) | Send Message
     
    Is this the first trade of the new CIO group?
    20 Jul 2012, 09:57 PM Reply Like
  • Whitehawk
    , contributor
    Comments (3129) | Send Message
     
    About $34/share, approx where it closed today.....
    20 Jul 2012, 10:10 PM Reply Like
  • 153972
    , contributor
    Comments (692) | Send Message
     
    After the last quarter's earnings( 40% of it due to debt reclass) and a revenue miss, Mr. Dimon ought to concentrate on how to improve his deposit to loan ratio, which is one of the worst in the industry, especially since the CIO dept that contributed 13% of JPM's earnings since 2009 won't be there anymore.
    20 Jul 2012, 10:54 PM Reply Like
  • Joe Dirnfeld
    , contributor
    Comments (1128) | Send Message
     
    Over one dollar per share dividend, times 500,000 shares is not bad if you can get it. In 5 years the stock will have doubled. I can go for that.

     

    Now that the CIO unit has been eliminated, it will be a much better business with fewer negative surprises.
    If Jamie buys another 500,000 shares I'll buy too.
    21 Jul 2012, 08:32 AM Reply Like
  • Phil Timyan
    , contributor
    Comments (85) | Send Message
     
    I love it. That's real money. Especially compared to Moynihan at BAC, who owns only about 8 months of salary worth. And much of that not purchased on open market.
    See:
    http://seekingalpha.co...
    20 Jul 2012, 11:03 PM Reply Like
  • Rosmo2004
    , contributor
    Comments (16) | Send Message
     
    I think for short time JPM will pick up its lost. Its the biggest US Bank. He is doing PR and also a smart move. Everything will be fine until the bubble burst. With Libor and all the banks scandal bubble will surely burst. CEO are good sweeping under the carpets managers, thats why they are there. If JPM falls its just like US economy falls. Just to ponder. Its just a matter of time.
    21 Jul 2012, 02:55 AM Reply Like
  • remurraymd
    , contributor
    Comments (2287) | Send Message
     
    Robbing Peter to pay Paul
    still did not put their buyback back
    so they still will not defend their own stock price
    Typical Jamie D give good face with some fake insider buying move.
    LIBOR racketeering criminal indictments coming soon.
    We will stay away.
    21 Jul 2012, 05:08 AM Reply Like
  • DaLatin
    , contributor
    Comments (1522) | Send Message
     
    I think the release should been seen for what it is and it also shows a lesson most should learn !

     

    Dimon must look out for the Dimon's. He sees the political handwriting and there is a good chance people in his range will pay a higher tax and capital gains may be raised on dividend income.

     

    And,also other tax changes may come and the death tax raised to 55%.

     

    So, what the release showed me is in " ASSOCIATED TRUSTs"

     

    People like Dimon, Buffet,Jobs,Gates, Ellison, Hollywood types & me, use trusts and Foundations.. No WILLs or LLCs..

     

    What ever goes down in the future the assets never change names as the people mentioned come and go ! NO TAX is do when they pass & the family members run them & donate pennies on the dollars and receive fantastic P/R........ Dimon is in that group !

     

    You don't need to be rich to use those techniques ! ">) DL

     

    Remember old addage. It's not what you earn. It's what you keep !
    21 Jul 2012, 07:07 AM Reply Like
  • blueblood
    , contributor
    Comments (33) | Send Message
     
    dumping JPM and the sector.
    21 Jul 2012, 10:16 AM Reply Like
  • Dr. V
    , contributor
    Comments (1179) | Send Message
     
    Bank only has a lousy 190 Bil USD in Equity, out of 2.3 Tril USD in assets, are you kidding me?

     

    Hey, can I play? Bet I can make ALL of the money disappear.

     

    Anyone running a bank that poorly should get the axe. No wonder everyone at the ASM could cross their legs without difficulty (think about it.)

     

    Total Assets 2,290,146.00
    minus
    Total Liabilities 2,098,574.00
    _______________________
    Total Equity 191,572.00

     

    You do not have to be a financial savant to understand something is REALLY wrong @ JPM,..... or?

     

    ATTENTION:
    Why are these questions NOT being asked?
    21 Jul 2012, 10:23 AM Reply Like
  • Daniel Radakovich
    , contributor
    Comments (545) | Send Message
     
    Sir, do you understand banks? Obviously not.
    21 Jul 2012, 03:29 PM Reply Like
  • 27mar38
    , contributor
    Comments (40) | Send Message
     
    Anyone have an opinion on buying the preferred
    that was sold? Maybe write some calls against
    the common?
    Red
    21 Jul 2012, 12:42 PM Reply Like
  • Rosmo2004
    , contributor
    Comments (16) | Send Message
     
    Dont forget how deep involvement of JPM in Silver market, it will come up someday. I was on silver until i read about so called manupaltion act from JPM and HSBC. Just waiting for it to burst again,
    21 Jul 2012, 03:39 PM Reply Like
  • deercreekvols
    , contributor
    Comments (5143) | Send Message
     
    John B. Hess, Chairman and CEO of Hess, bought 48,000 shares of HESS at $52/share. This was reported on May 6, 2012.

     

    Just wanted readers to know that Mr. Dimon is not the only CEO who buys shares of the company he is in charge of. The comment of "he puts his money where his mouth is" can apply to many CEOs.

     

    I hope that Market Currents makes it a practice to report the buys and sells of CEOs. I wouldn't want Mr. Dimon to receive special coverage for doing what others do too.
    22 Jul 2012, 09:12 PM Reply Like
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