This Day On The Street
Continue to site
ADVERTISEMENT
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here

Don't Bet Against JPMorgan

NEW YORK ( TheStreet) -- Warren Buffett once said, "It takes 20 years to build a reputation and 5 seconds to ruin it. If you think about that, you'll do things differently."

It's no glowing endorsement to regard JPMorgan Chase (JPM) as the cleanest shirt in a dirty hamper. Yet I always regard that as an appropriate label, given the list of the villains that created the financial crisis. Today, however, that sentiment changed. Where do we begin?

It would be a gross understatement to say that the now infamous "London Whale" trade, which saw the bank lose more than $6 billion in complicated maneuvers, has knocked some shine off JPMorgan's armor. Criminal indictments have been filed against two former traders accused of attempting to cover up the losses and JPMorgan has been implicated for what regulators consider "manipulative market practices."

The bank opted to settle these charges for $13 billion, which includes no admission of wrongdoing. Still, given the strength of the bank's balance sheet and its deep pockets, I do question why JPMorgan resisted the fight. Not to mention, the settlement, which still leaves the door open for other criminal cases, does not release JPMorgan or any individuals from further prosecution related to the mortgage scandal.

1 of 2

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Only $9.95
14-Days Free
Dividend Stock Advisor

David Peltier identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Updates with exact steps to take - BUY, HOLD, SELL
Trifecta Stocks

Every recommendation goes through 3 layers of intense scrutiny—quantitative, fundamental and technical analysis—to maximize profit potential and minimize risk.

Product Features:
  • Model Portfolio
  • Intra Day Trade alerts
  • Access to Quant Ratings
Options Profits

Our options trading pros provide over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • Actionable options commentary and news
  • Real-time trading community
SYM TRADE IT LAST %CHG
AAPL $126.00 -0.35%
FB $87.55 0.30%
GOOG $522.86 -0.10%
TSLA $279.72 -0.11%
YHOO $38.61 -1.96%

Markets

DOW 17,683.58 -46.53 -0.26%
S&P 500 2,068.76 -8.02 -0.39%
NASDAQ 4,991.94 -17.2740 -0.34%

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs