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JPMorgan Chase(JPM - Get Report) tops off our Rocket Stocks list this week. JPM is one of the biggest financial firms in the world, with well over $2 trillion in assets under the firm's wide umbrella. JPMorgan is involved in all corners of the banking business, from conventional retail and commercial banking operations on through to investment banking, asset management, and treasury services.
JPMorgan Chase got shellacked during the financial crisis, but it's how this stock has emerged from that crisis that's earned it its stripes. JPM came out of the financial crisis with a less scary loan book than other peers, and it returned to high levels of profitability much faster as well. Like other big banks, JPM greatly increased its scale in the wake of the Great Recession, picking up assets from Washington Mutual and Bear Stearns at fire sale prices as each firm collapsed. Now that's propelling JPMorgan's profits to new record highs.
Last year's CIO debacle at JPM served as a strong reminder that this firm's huge, labyrinthine balance sheet can still hold some scary surprises. That said, under Jamie Dimon's leadership JPM has prospered enough to shrug off the rare misstep. With shares looking cheap by many valuation metrics, we're betting on shares this week.