Jamie Dimon must be shorting the market.

He is always a downer. Guy hovers between cautious to down right doomer in public speeches and has been that way for forever.

Dimon is always head-faking, so not that reliable, but do feel we go up a bit before a retraction prior to midterms, and that might be what he’s alluding

Jamie Dimon says JPMorgan stock is too expensive: 'We're not going to buy back a lot'

quote:

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When pressed about the timing of a potential boost to the bank's share repurchase program, Dimon did not mince words. "We're not going to buy back a lot of stock at these prices," Dimon said. JPMorgan, the biggest U.S. bank by assets, has seen its shares surge 40% over the past year, reaching a 52-week high of $205.88 on Monday before Dimon's comments dinged the stock.

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And today - JPMorgan Chase & Co. (JPM)

345.23
+6.36
(+1.88%)
At close: 4:00:02 PM EDT

Yep, I love a cautious banker. Never want to see him in Vegas.

quote:

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My cost basis for my JPM shares is $33.80/share.

Freakin nice......

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I have to confess I didn't plan for that to happen.

I worked for a decade or so for a small bank in Baton Rouge and accumulated enough shares to be the 10th largest non-institutional shareholder in that bank via my stock options & 401(k) match which was in my bank's stock.

Then my bank got bought buy another bank using the acquiring bank's stock which gave me a bump in the number of shares in the acquiring bank by giving me 1.5 shares in the new bank's stock for every share of my original bank's stock.

Then another bank bought that bank, another bump, and them JPM bought that bank.

When JPM took over it left me with over 15,000 shares in JPM.

That's the good news.

The bad news was over 90% of my stock portfolio's value was in JPM at $33.80/share cost basis.

So, I started selling shares to diversify my holdings which was prudent but now I only have 3,800 shares of JPM left.

The funny thing is because JPM's stock price has done so well under Jamie Dimon that my JPM shares still amount to just under 50% of my portfolio's value.

There's no way in heck I was smart enough to have planned that to happen.

quote:

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retraction prior to midterms,

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My spidey sense is tingling.

quote:

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have to confess I didn't plan for that to happen.

I worked for a decade or so for a small bank in Baton Rouge and accumulated enough shares to be the 10th largest non-institutional shareholder in that bank via my stock options & 401(k) match which was in my bank's stock.

Then my bank got bought buy another bank using the acquiring bank's stock which gave me a bump in the number of shares in the acquiring bank by giving me 1.5 shares in the new bank's stock for every share of my original bank's stock.

Then another bank bought that bank, another bump, and them JPM bought that bank.

When JPM took over it left me with over 15,000 shares in JPM.

That's the good news.

The bad news was over 90% of my stock portfolio's value was in JPM at $33.80/share cost basis.

So, I started selling shares to diversify my holdings which was prudent but now I only have 3,800 shares of JPM left.

The funny thing is because JPM's stock price has done so well under Jamie Dimon that my JPM shares still amount to just under 50% of my portfolio's value.

There's no way in heck I was smart enough to have planned that to happen.

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Yea it don't matter how you got them but you got them that's what matters and that is a great story. You killed it.

He is becoming a carciture. Great banker though.

I'm about to short everything!