Many a times I reminded to friends, well wishers and the new entrants who approched me for advice..."Stock Markets is No Child's Play"
PEOPLE play so easily just because there is no ENTRY Barrier.
It allows all players but many tend to loose. Those who lost try to re-negotiate with the MARKET for a better deal....THAT NEVER HAPPENS....
BUT Professional Approach with well Calculated RISK and a better time frame to maturity will YIELD POSITIVE RESULTS....
THEN WHO IS A PROFESSIONAL...
THE WINNER IS THE ANSWER.....
SO........
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JPMorgan Loses $2 Billion on Unit’s ‘Egregious Mistakes’ (Update 1)
By Dawn Kopecki, Michael J. Moore and Christine Harper - May 12, 2012 6:15 AM GMT+0530
JPMorgan Chase & Co. (JPM) Chief Executive Officer Jamie Dimon said the firm suffered a $2 billion trading loss after an “egregious” failure in a unit managing risks, jeopardizing Wall Street banks’ efforts to loosen a federal ban on bets with their own money.
The firm’s chief investment office, run by Ina Drew, 55, took flawed positions on synthetic credit securities that remain volatile and may cost an additional $1 billion this quarter or next, Dimon told analysts yesterday. Losses mounted as JPMorgan tried to mitigate transactions designed to hedge credit exposure.
“There were many errors, sloppiness and bad judgment,” Dimon said as the company’s stock fell in extended trading. “These were egregious mistakes, they were self-inflicted.”
http://www.bloomberg.com/news/2012-05-11/jpmorgan-loses-2-billion-as-mistakes-trounce-hedges.html
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JPMorgan $2 billion loss hits shares, dents image
By David Henry and Douwe Miedema
NEW YORK/LONDON (Reuters) - JPMorgan Chase & Co lost $15 billion in market value and a notch in its credit ratings on Friday while a chorus of regulators and politicians reacted to its surprise $2 billion trading loss by demanding stiffer oversight for the banking industry.
Republican Senator Bob Corker of Tennessee called for a hearing into the losses that the largest U.S. bank disclosed Thursday, while Securities and Exchange Commission Chairman Mary Schapiro told reporters: "It's safe to say that all the regulators are focused on this."
The debacle sparked new fears about big banks and prompted Dallas Federal Reserve Bank President Richard Fisher, who has called for the breakup of the top five U.S. banks, to say he is worried the biggest banks do not have adequate risk management.
http://finance.yahoo.com/news/jpmorgan-trading-loss-least-2-billion-reputation-hit-021547066--sector.html
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JPMorgan $2b loss hits shares, credit, image
Published: 4:15PM Saturday May 12, 2012 Source: Reuters
JPMorgan & Co lost $US15 billion in market value and a notch in its credit ratings today while a chorus of regulators and politicians reacted to its surprise $2 billion trading loss by demanding stiffer oversight for the banking industry. The loss by one of Wall Street's most respected banks embarrassed chief executive Jamie Dimon, a leader lauded for steering his bank through the fallout from the 2008 financial crisis without reporting a loss.
"We know we were sloppy. We know we were stupid. We know there was bad judgment," Dimon said in an interview with NBC television to be broadcast on "Meet the Press" on Sunday.
http://tvnz.co.nz/business-news/jpmorgan-2b-loss-hits-shares-credit-image-4884234
PEOPLE play so easily just because there is no ENTRY Barrier.
It allows all players but many tend to loose. Those who lost try to re-negotiate with the MARKET for a better deal....THAT NEVER HAPPENS....
BUT Professional Approach with well Calculated RISK and a better time frame to maturity will YIELD POSITIVE RESULTS....
THEN WHO IS A PROFESSIONAL...
THE WINNER IS THE ANSWER.....
SO........
-------------------------
JPMorgan Loses $2 Billion on Unit’s ‘Egregious Mistakes’ (Update 1)
By Dawn Kopecki, Michael J. Moore and Christine Harper - May 12, 2012 6:15 AM GMT+0530
JPMorgan Chase & Co. (JPM) Chief Executive Officer Jamie Dimon said the firm suffered a $2 billion trading loss after an “egregious” failure in a unit managing risks, jeopardizing Wall Street banks’ efforts to loosen a federal ban on bets with their own money.
The firm’s chief investment office, run by Ina Drew, 55, took flawed positions on synthetic credit securities that remain volatile and may cost an additional $1 billion this quarter or next, Dimon told analysts yesterday. Losses mounted as JPMorgan tried to mitigate transactions designed to hedge credit exposure.
“There were many errors, sloppiness and bad judgment,” Dimon said as the company’s stock fell in extended trading. “These were egregious mistakes, they were self-inflicted.”
http://www.bloomberg.com/news/2012-05-11/jpmorgan-loses-2-billion-as-mistakes-trounce-hedges.html
-----------------------------------------
JPMorgan $2 billion loss hits shares, dents image
By David Henry and Douwe Miedema
NEW YORK/LONDON (Reuters) - JPMorgan Chase & Co lost $15 billion in market value and a notch in its credit ratings on Friday while a chorus of regulators and politicians reacted to its surprise $2 billion trading loss by demanding stiffer oversight for the banking industry.
Republican Senator Bob Corker of Tennessee called for a hearing into the losses that the largest U.S. bank disclosed Thursday, while Securities and Exchange Commission Chairman Mary Schapiro told reporters: "It's safe to say that all the regulators are focused on this."
The debacle sparked new fears about big banks and prompted Dallas Federal Reserve Bank President Richard Fisher, who has called for the breakup of the top five U.S. banks, to say he is worried the biggest banks do not have adequate risk management.
http://finance.yahoo.com/news/jpmorgan-trading-loss-least-2-billion-reputation-hit-021547066--sector.html
-----------------------
JPMorgan $2b loss hits shares, credit, image
Published: 4:15PM Saturday May 12, 2012 Source: Reuters
JPMorgan & Co lost $US15 billion in market value and a notch in its credit ratings today while a chorus of regulators and politicians reacted to its surprise $2 billion trading loss by demanding stiffer oversight for the banking industry. The loss by one of Wall Street's most respected banks embarrassed chief executive Jamie Dimon, a leader lauded for steering his bank through the fallout from the 2008 financial crisis without reporting a loss.
"We know we were sloppy. We know we were stupid. We know there was bad judgment," Dimon said in an interview with NBC television to be broadcast on "Meet the Press" on Sunday.
http://tvnz.co.nz/business-news/jpmorgan-2b-loss-hits-shares-credit-image-4884234
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