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Stock buybacks are downgraded from a "no-brainer" to a "pretty good deal" by Jamie Dimon (JPM...

Stock buybacks are downgraded from a "no-brainer" to a "pretty good deal" by Jamie Dimon (JPM -1.2%) as the share price of $46.35 is now 20% higher than tangible book value of $38.75. Still, book value grew 15% last year - at that pace, buybacks over time will still be accretive. (earnings)
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Comments (3)
  • bbro
    , contributor
    Comments (10526) | Send Message
     
    At the end of 2008 JPM had tangible common equity of 77 billion...today it is 147 billion..an increase of 90%...the stock price (including dividend reinvestment is up 59%
    16 Jan 2013, 09:37 AM Reply Like
  • Kevin Flynn, CFA
    , contributor
    Comments (658) | Send Message
     
    New drinking game: every time Jamie Dimon says, "Look." Could anyone make it to end of call?
    16 Jan 2013, 09:44 AM Reply Like
  • CaladesiKid2
    , contributor
    Comments (275) | Send Message
     
    Curious of the components of 'tangible book value'. Does tangible book value include residential and commercial mortgages? If so, how is the book value of those mortgages computed? In addition, does tangible book value include any European bonds, public or private? If so, how is the book value of those bonds computed? Tangible book value?
    16 Jan 2013, 10:15 AM Reply Like
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