MORE GAINS AHEAD – 340% GAIN ON THIS BLUEST OF BLUE CHIP BANKS
JPMorgan (JPM) is long from $34.14. It is trading at $150.48 as of this writing. This represents a gain of 340%. JPM is the bluest of blue-chip banks. JPM is in the Model Portfolio.
JPM reported better than expected earnings and better than the whisper numbers.
The company also pays a dividend of 2.38%.
Key Points
Here are the key points,
- Last year JPM set up reserves for bad loans that were anticipated due to coronavirus.
- The Fed stepped in with money printing, almost zero interest rates, and a number of other programs.
- First Trump and then Biden stepped in with free money and heavy borrowing.
April 15, 2021