Whats the big deal, you ask? Well i'm not a shareholder but if I were and was to see a precipitous drop in price from over $46 on April 2 to under $36 now, i'd be greatly concerned.A 22% drop in the stock price in less than 1 1/2 months is a big deal to me.
Ok.. Just shut the f.. Up... 1. Ceo lied during earning confernce. 2.. They're scamming people..
3. The only people that will be losing money at the end of the day are the share holder....
this thing have nothing but scamm written all over it ....all the banks have no profit.. Its all cooked up......
That's the point. This wasn't supposed to be a risk. It was a hedge to protect against risk that was put on wrong. The CEO made sure they were hedging their risks. The execution was poor and those involved are out the door. This guy doesn't accept mediocrity.
they are still in this trade and are to big to get out they own 25% of total option out there and can't find buyers 2 billion is what they were at friday no one knows how much they still hold
You are so far off it is ridiculous. The problems in 2008 were from subprime mortgages not derivatives. JPM got out of subprime in time because Dimaon is a good risk manager. The only financial institution really hurt by derivatives was AIG which is not a bank, and Morgan Stanley, which was not bank at the time.
This is about JPM earning stigma like "Goldman Sachs Fabulous Fab" and "MF Global's Corzine ordered funds transferred". This is about Daimon did keep it a lid until now. When did he know it? How long he knew it? What other activities in JPM he kept a lid on?
So what if he knew it earlier than disclosed. Its bordering on imaterial. The market has way over reacted. Companies have non-recurring events that reduce earnings by 20% after tax ALL THE TIME and don't mention them until earnings come out. JPM came out before earnings.
you haven't grasp the whole situation over the weekend? the real issues are the government investigation into JPM lending and trading, implementation of Volcker Rule, and ripple effect impact entire financial sectors. it is not just about monetary loss...