Doug Kass took to his page at TheStreet to explain why he’s taking a long position in $JPM under $40. He is disappointed in management but believes the risk-reward is worthwhile here…
I took a small long position in JPMorgan Chase (JPM_) at $38.20 after the close of trading yesterday and after JPMorgan made its surprising announcement.
I weighed the impact of the hit to earnings and to perception and concluded that it is fairly unusual to be able to buy JPMorgan Chase’s shares at only $4 over book value ($34 a share), especially in the face of an active $15 billion buyback.
I am not foolish enough to believe that I will be immediately rewarded in this trade, however, and I am putting the shares away as an investment.
Click over to find out why…
Source:
The Smartest Man in the Room Looks Dumb (TheStreet)
… [Trackback]
[…] Information on that Topic: thereformedbroker.com/2012/05/11/dougie-why-im-buying-jpm/ […]
… [Trackback]
[…] Find More on that Topic: thereformedbroker.com/2012/05/11/dougie-why-im-buying-jpm/ […]
… [Trackback]
[…] Read More here on that Topic: thereformedbroker.com/2012/05/11/dougie-why-im-buying-jpm/ […]
… [Trackback]
[…] Read More to that Topic: thereformedbroker.com/2012/05/11/dougie-why-im-buying-jpm/ […]
… [Trackback]
[…] Find More to that Topic: thereformedbroker.com/2012/05/11/dougie-why-im-buying-jpm/ […]
… [Trackback]
[…] Read More Information here to that Topic: thereformedbroker.com/2012/05/11/dougie-why-im-buying-jpm/ […]
… [Trackback]
[…] Find More Information here on that Topic: thereformedbroker.com/2012/05/11/dougie-why-im-buying-jpm/ […]