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HomeJP Morgan Whale: “Thar She Blows”
Posted by Larry Doyle on May 11th, 2012 6:02 AM |
Less than a month ago, JP Morgan released very solid 1st quarter 2012 earnings and put out the following release:
New York, April 13, 2012 – JPMorgan Chase & Co. (NYSE: JPM) today reported first-quarter 2012 net income of $5.4 billion, compared with net income of $5.6 billion in the first quarter of 2011. Earnings per share were $1.31, compared with $1.28 in the first quarter of 2011.
Jamie Dimon, Chairman and Chief Executive Officer, commented on financial results: (more…)
Is JP Morgan Fronting for the Fed?
Posted by Larry Doyle on April 13th, 2012 9:09 AM |
UPDATE: This commentary written in mid-April 2012 should be read in conjunction with the following:
May 14th Review: Bloomberg Bombshells re: JP Morgan $2B Loss
May 12th review: $2B Loss? What Went Wrong at JP Morgan?
May 11th review: JP Morgan Whale: “Thar She Blows”
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Reports are swirling around Wall Street and the global markets about massive credit bets on the books at JP Morgan.
A JP Morgan trader in London, Bruno Iksil, has been nicknamed ‘the whale’. Iksil reports ultimately to Achilles Macris, JPM’s chief investment officer in Europe and Asia. Bloomberg had an interesting discussion this morning about Iksil, Macris, JPM, and these positions. Let’s watch and learn… (more…)
