JP Morgan

[weijian]

With less friction, it is probably going to be better on aggregate for everyone in investing. But i just thought there could be secondary effects of less friction causing people to trade more (eg. seat belts reduce fatalities but increased non fatal accidents by a lot since people became less cautious as a side effect of the knowledge of safety with a seat belt). There are other things like "number of free trades a user has left is prominently displayed on the app" which also has the effect of nudging people to trade more (by focus their attention away from "no of trades made" to "how much FREE trades i have left")

JP Morgan to unveil new investing app with an eye-catching, disruptive price: Free

• .P. Morgan's new digital brokerage service comes with free trades, portfolio building tool and access to equity research.
  
  
• The bank's new trading service starts next week and will be available to its 47 million mobile or online users.
  
  
• All customers get 100 free stock or ETF trades in the first year. Those with Chase Private Client get unlimited trades.
  
  
• CEO Jamie Dimon hinted at this move in 2016, citing Amazon Prime as his inspiration.
  

https://www.cnbc.com/2018/08/21/jp-morga...-free.html

[Wildreamz]

When will services like this come to Singapore?

You can already use very low cost brokers like Interactive Brokers in Singapore, but you can't trade Singapore stocks due to (I believe) legal restrictions.

I believe negative incentives (incentives to trade more) will be balanced by positive incentives (incentives to dollar cost average more regularly, and not trying to time the market).

[dreamybear]

The articles are a bit old, but since I just replied on the BOA thread, I thought I might as well add on to this thread for sharing.

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1. Yahoo Finance 16 Mar 2018

"Buffett: I made a mistake not buying JPMorgan stock

Buffett, 87, has publicly praised JPMorgan’s CEO Jamie Dimon. He’s also a fan of Dimon’s annual shareholder letter and often recommends that folks read it. That said, Berkshire Hathaway has never owned a share of the company.

“I should’ve [invested],” Buffett told Yahoo Finance editor-in-chief Andy Serwer in a wide-ranging interview in Omaha, Nebraska, recently. “Very obviously. I mean, it’s been a terrifically run operation. And it was very cheap, just like a number of others were.”.......

Buffett acknowledged that he owns some JPMorgan shares in his personal account. “I only have about five or six stocks."

Read more : https://finance.yahoo.com/news/buffett-m...23649.html

2. GuruFocus 14 November 2018

"New Purchase: JPMorgan Chase & Co (NYSE:JPM)

Warren Buffett (Trades, Portfolio) initiated holdings in JPMorgan Chase & Co. His purchase prices were between $103.61 and $118.63, with an estimated average price of $113.52. The stock is now traded at around $107.33. The impact to his portfolio due to this purchase was 1.82%. His holdings were 35,664,767 shares as of 2018-09-30."

Read more : https://www.gurufocus.com/news/770820/wa...-sanofi-sa

3. Yahoo Finance 3 April 2019

"Warren Buffett: Banks will be worth more money 10 years from now

......... During the third quarter of 2018, Berkshire Hathaway snapped up a new position in JPMorgan Chase (JPM) of 35.6 million shares. Buffett then added another 14.5 million shares during the fourth quarter, making it the 9th largest stock holding for him with more than 50.1 million shares .........

Buffett, 88, has publicly praised JPMorgan’s CEO Jamie Dimon for years but had not owned the stock until late last year. Last year, he told Yahoo Finance that he made a “mistake” by not buying JPMorgan earlier....... "

Read more : https://sg.finance.yahoo.com/news/warren...17582.html

4. JPM Key Data

https://www.marketwatch.com/investing/stock/jpm

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*vested since 2012, blessed to enter ard $37*

[weijian]

No surprise that Capitalism has been the big winner on every account.

Fed greenlights share buybacks, dividends for US banks

The largest US banks have enough capital to withstand over US$600 billion in losses from a short, sharp economic slump, as well as a moderate longer-lasting downturn, and will be permitted to pay out dividends and buy back stock on a limited basis, the US Federal Reserve (Fed) said.

https://www.businesstimes.com.sg/banking...r-us-banks

[alanyeoinvest]

Sharing some thoughts on market positioning in the US Market for informational purposes. Hope readers will find it useful.

https://alanyeoinvest.com/2021/06/16/ahead-of-fomc/

JPM, BAC, HST, DAL, RCL, CCL, SYF,

[weijian]

Have to admit that I am late to the party of the Jamie Dimon's fanclub. So Jamie Dimon was heir apparent at Citibank, the biggest bank then. But he was too impatient to replace his mentor Sandy Weills as CEO and got sacked. His mentor did later admit sacking Jamie Dimon was one of the "biggest mistakes" of his career.

Jamie Dimon invested half his net worth (60mil) in his new employer Bank One when he became CEO. Bank One's market cap then was 10x smaller than his previous employer Citibank. It is infrequent to hear of anyone purchasing their new employer's shares using their own money, what more a quantum that is half of their net worth.

He also pulled back in 2006 till ~30% of the typical Wall Street bank leverage. On hindsight, it was brilliant because in an alternate history, subprime could have made tons of money or gone on for longer than it did. So if JP Morgan didn't at least kept dancing a bit, they would be left behind. Life results are generally binary but our decision making cannot be.

The Jamie Dimon Interview: How JP Morgan Became an $800 Billion Bank (1hr long but ~40mins if 1.75x)
Acquired podcast: https://www.youtube.com/watch?v=AR_1IPhzAtU

P.S. Jamie Dimon has nothing on his wrists, unlike his 2 hosts (and no fancy cars too)