The news about Coronavirus continues to get substantially better.  The CDC updated its infection fatality rate (IFR) estimate to 0.26%.  This means that, if one is infected, they have a 0.26% chance of dying.  Initial estimates hovered around 1.5-3%, which shows how drastically wrong they were.  Now clearly one has a higher chance of death...Read More

Below is a link to our most recent research report on J.P. Morgan.  We feel that the stock is still reasonably attractive and that market participants are far too critical on the bank and Jamie Dimon.  I hope that you enjoy!   http://seekingalpha.com/article/1945941-perception-is-not-reality-for-jamie-dimon-and-jpmorgan  Read More

We are now 5 years past the Great Recession of 2008, yet governments’ in both the United States and the United Kingdom are still obsessing about banks’ sins of the past.  The most recent headline is that the U.K. believes that RBS intentionally allowed viable businesses to go bankrupt to gauge them for advisory fees...Read More

JP Morgan 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...Read More

I thought Jamie Dimon handled himself very well in front of Congress.  While so much has been made about this trading loss, which really is relatively small compared to the size of the firm, the bigger issue is on the transparency of banking operations.  No bank should engage in financial dealings that aren’t understandable to...Read More

JP Morgan produced extremely strong earnings numbers today.  Net income was $5.38 billion and the earnings were balanced through the retail banks and the investment bank.  JP Morgan is really a behemoth with simply amazing earnings power and Jamie Dimon has done a great job navigating the rough financial waters over the last several years....Read More

Jamie Dimon the CEO of JP Morgan Chase came out with his shareholder letter today.  I always enjoy reading it as Dimon is honest, insightful, and outspoken.  He touches on a variety of subjects but I found most interesting his belief in buying his stock, and his rationale for doing so which I completely agree...Read More

Today we had some big news with the Federal Reserve announcing the results of the dramatic stress tests.  As a whole the US banking industry did quite well, which is to be expected considering they have double the capital that they had three years ago. I was somewhat surprised to see Citigroup, which has one...Read More