As J.P. Morgan continues to get slammed by experts and pundits, the stock (JPM) is up over 5% today.
Even as the company’s value continues to rebound, the media can’t stop taking shots.
Today’s WSJ headline reads: J.P. Morgan Second-Quarter Profit Fell 8.7%.
Underneath, it says: Losses on ‘Whale’ Trades Total $5.8 Billion Through Thursday.
The article continues with 4 more negative paragraphs until you get to this:
Overall, the bank posted a $4.96 billion second-quarter profit.
That’s just one prime example of how the media tries to dictate the mood.
A quick scan of the headlines says profits fell and they did. However, the natural assumption by the uninformed reader is that they lost money. they did not. They made just under $5 billion in 3 months.
This is when trading becomes fun.
The media hammers the stock and we use it as a buying opportunity.
*I own JPM and bought more today. It is my number one stock today and for that reason I have some thank you’s to write…
Thank you WSJ: J.P. Morgan Second-Quarter Profit Fell 8.7%
Thank you Yahoo Finance: JPMORGAN loses $5.8 billion on trades; traders may have hidden losses
Thank You Bloomberg: Geithner Raised Flag, ‘Whale’ Loss Bigger
Thank You AP: JPMorgan says bad trade has ballooned to $5.8B
Thank You New York Times: JPMorgan Says Trading Loss Tops $5.8 Billion; Profit For Quarter Falls 9%
Because every publication focused on negative attention grabbing headlines, I was able to rock JPM today.
It’s a constant theme of focusing on readership rather than relevance that steers the average investor in the wrong direction.
