Once considered a best in breed play, lately traders have shied away from JPMorgan due to headline risk. But that may be changing.
“I’d own JPMorgan right here,” says top trader Simon Baker, CEO at Baker Avenue Asset Management, on CNBC's Fast Money Halftime Report . He thinks the worst is over in part due to reports that CEO Jamie Dimon sold most of the controversial losing position, put on by a trader named the London Whale.
Earlier in the spring CEO Jamie Dimon said the bank was facing an unexpected loss estimated between $2 and $5 billion due to trades made in London.
Many pros have shied away from JPMorgan , due to concerns about headline risk related to that controversy.Page 1 of 5 | Next Page