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JPMorgan Chase Bank CEO Jamie Dimon buys 500,000 shares of JPM
Posted on 2/12/16 at 2:16 pm
Posted on 2/12/16 at 2:16 pm
quote:LINK
Jamie Dimon just dropped $26 million on JPMorgan shares
JPMorgan (JPM) chief executive Jamie Dimon has bought 500,000 shares in the bank, according to a person familiar with the matter.
The share purchase cost around $26 million, according to the person. The news was first reported by Dow Jones.
Bank stocks have taken a hammering of late, with JPMorgan falling around 20% since 2016 started.
The purchase is likely intended as a sign of confidence in the bank.
JPM is currently up $4.41/share, or 8.3%, for the day.
It brings Dimon's total JPM holdings to 6.7 million shares.
Full disclosure, Jamie Dimon and I combined now own over 6.7 million shares of JPM.....
7
Posted on 2/12/16 at 2:27 pm to LSURussian
quote:
The purchase is likely intended as a sign of confidence in the bank.
Dimon thinks he's Rockefeller
Posted on 2/12/16 at 2:40 pm to LSURussian
quote:must be nice
Jamie Dimon just dropped $26 million on JPMorgan shares
quote:ohh come on, you're allowed to round up!
Full disclosure, Jamie Dimon and I combined now own over 6.7 million shares of JPM.....
This post was edited on 2/12/16 at 2:41 pm
Posted on 2/12/16 at 2:43 pm to castorinho
quote:I did....
hh come on, you're allowed to round up!
Posted on 2/12/16 at 3:03 pm to LSURussian
Great symbolic sign of confidence that "this is not 2008".
Good news/market reaction to Deutsche Bank today as well.
Deutsche Bank AG Surges on Bond Buyback Announcement
Good news/market reaction to Deutsche Bank today as well.
Deutsche Bank AG Surges on Bond Buyback Announcement
Posted on 2/12/16 at 3:18 pm to TigerDeBaiter
Yeah, but I fell for these exact same types of confidence signals back in mid-2008, when large institutional investors started investing back in MBS. They don't always know what they're doing.
In Dimon's case, I trust that he knows what he's doing, and that buying more than 20% off the peak is not a bad investing strategy. That being said, if he were really pursuing an optimal personal investment strategy, then he would likely diversify away from JPM. In other words, he is mixing insider knowledge, market timing acumen / fundamental pricing, and public relations signaling.
All things being equal, insider purchases are a good sign, but one should be cautious in noting that there is also a PR side to it that comes with Dimon wanting to shore up investor confidence and better control his own board of directors.
In Dimon's case, I trust that he knows what he's doing, and that buying more than 20% off the peak is not a bad investing strategy. That being said, if he were really pursuing an optimal personal investment strategy, then he would likely diversify away from JPM. In other words, he is mixing insider knowledge, market timing acumen / fundamental pricing, and public relations signaling.
All things being equal, insider purchases are a good sign, but one should be cautious in noting that there is also a PR side to it that comes with Dimon wanting to shore up investor confidence and better control his own board of directors.
Posted on 2/12/16 at 3:42 pm to Doc Fenton
quote:
there is also a PR side to it
Posted on 2/12/16 at 3:44 pm to Bernie_Madoff
I wonder if he has his own FA bc if so, that guy just made bannnnnnnnnnnnnnnk on one trade
This post was edited on 2/12/16 at 3:45 pm
Posted on 2/12/16 at 4:47 pm to LSURussian
quote:
Full disclosure, Jamie Dimon and I combined now own over 6.7 million shares of JPM.....
Me and Jamie now collectively own over 6,700,010 shares of JPM.*
* - I think one of the mutual funds in my 401K owns shares of JPM, so I'm guessing this is my indirect ownership. Or close to it. Maybe.
Posted on 2/12/16 at 5:59 pm to LSURussian
quote:
JPM is currently up $4.41/share, or 8.3%, for the day.
Cha ching, one of only two stocks I hold
Posted on 2/12/16 at 6:24 pm to roguetiger15
No kidding, I heard Mark Cuban on CNBC yesterday too say he called his broker to buy some puts with him. Must be nice to be that broker.
Posted on 2/12/16 at 8:43 pm to LSURussian
Yep read on Bloomberg that he made over 2 million on the deal.... Must be nice.
Posted on 2/13/16 at 7:01 am to LSURussian
Insider information that another bank bailout is coming and he stands to make a killing again???
Also, if he is tossing around $26 mil., it would be nice if he just canceled the $250k mortgauge I have with his company....
Also, if he is tossing around $26 mil., it would be nice if he just canceled the $250k mortgauge I have with his company....
This post was edited on 2/13/16 at 7:03 am
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