What do you guys think about JPM?
“I don’t think that we can conclude that this slowdown is secular rather than cyclical change,” Mr. Blankfein, 57, said Tuesday at an investor conference in New York hosted by Bank of America Corp.’s Merrill Lynch unit. “The world will snap back and it will be a surprise and it will be faster than people think.” Cyclical change, really Mr. Blankfein?
Looks like my new venture CFA_TinfoilHat.com is taking off brilliantly. Lot’s of loom and doom being spewed here. If you were like me, you would have put all of your currency in gold, guns, and butter and carved out a panic room 10 stories underground. Enjoy the end of days that’s coming anyday now.
I don’t think firms like JPM or GS make good investments. They are essentially in a commoditized industry with exceptional power given to employees. Wall street firms should be partnerships.
I think the banks will survive, but I don’t think shareholders will benefit. If they come up with something like TARP, the outstanding stock can be diluted by govt capital, company can stay profitable like before, but shareholders lose.
i’m not sure about whether sentiment and whether it is a bull or bear market are related. most of the rallies noted above were merely retracements of past severe downdays, #1-3, but #4 was a little more convincing though ended being a fake. i would say the recent rally we’ve seen is more resemblant of #4 as many think we’re ready for another bull run now after our #4 looking rally. i think a clear separation being ST and LT sentiment needs to be made. obviously ST sentiment was low prior to the recent 21% rally but i wouldn’t say LT sentiment was low based on the AA of your average portfolio.