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Jamie Dimon's Whale Of A Stock Buy-Barrons

|Includes: BAC, C, JPMorgan Chase & Co. (JPM)

JP Morgan (NYSE:JPM) CEO Jamie Dimon showed some serious confidence in his own company by buying 500,000 shares last week for $34.22 each. That is a real conviction purchase that shows that Dimon is confident his company can survive the "Whale Problem" and the European crisis. JP Morgan has some of the best earnings power of any company in the world and can be a staple stock in anyone's portfolio at current prices. I actually prefer Citigroup (NYSE:C) and Bank of America (NYSE:BAC) because they are priced for failure which is extremely unlikely, as these companies have never been in stronger shape financially.

Disclosure: I am long C, BAC, JPM.