Since the great recession of 2008, I have often heard investors say that big banks have become zombie banks. They are alive because of government support, and the government will never let them make decent profits. The political rhetoric of this presidential campaign has also been very negative about big
This post was just published on ZYX Buy Change Alert. The position is long with an average price of $34.14. As of this writing JPM is trading at $60.25. Currently, 10% of the full core position size is being held and there is also a trade around position. The current hedging program
This post was just published on ZYX Buy Change Alert. JPM is long from $34.14. As of this writing it is trading at $68.61. JPM reported earnings better than expectations. The target zone remains $78 to $83. The buy zone remains $58 to $64.57, preferably below $62.70. JPM is one of the largest
This post was just published on ZYX Buy Change Alert. Banks in our portfolio include BAC, BBD, C, ITUB, JPM, SAN, and ZION. The Swiss National Bank removing franc’s peg to euro resulted in extreme volatility in forex. The impact on the banks in our portfolio is not know at this time. It is
In the world of gadgets, there have been two major developments this week. Facebook spent $2 billion buying the virtual headset maker Oculus, claiming that virtual reality will be the next big thing after mobile. Google also announced a partnership with Luxottica of Italy to make the Google Glass
It was not long ago that Jamie Dimon, CEO of J.P. Morgan, was considered the golden boy of American banking. After all, he had guided the bank mostly unscathed through the financial crisis of 2008. Then last year, the London Whale crisis erupted. Bruno Iksil, a London-based J.P. Morgan trader
(The Weekly Digest reproduces the morning capsules made available every morning before the market open in the Real Time Feeds to the paying subscribers. ) INFLATION UNDER CONTROL, GOLD FALLS August 13, 2013 August Core PPI came at 0.0% vs. 0.1% consensus. This indicates inflation is less than expectations.
Yesterday, Apple announced two new iPhones, iPhone 5S and iPhone 5C. Today, at an event in Beijing, Apple announced new iPhone availability at two smaller carriers, China Unicom and China Telecom, but no deal with the largest carrier, China Mobile. Wall Street is venting its disappointment: Bank of America, UBS,
Yesterday after the close, Google GOOG (GOOG) reported earnings of $9.56 per share, excluding items, compared to consensus of $10.78. Revenues came at $14.11 billion compared to the consensus forecast of $14.40 billion. Operating margins came at 28% compared to 33% for the same quarter in 2012. As I listened to Google’s
Yesterday after the market close, the Federal Reserve announced the results of Comprehensive Capital Analysis and Review (CCAR). In CCAR, the Fed evaluates capital ratios under distressed financial and economic conditions, the plan to comply with Basel 3 capital requirements, and the capital planning process. The Fed approved capital plans