JPMorgan's (JPM) Dimon: London Whale Trade Could Lose More Money, Buyback to Start in Q113

September 11, 2012 1:44 PM EDT
Get Alerts JPM Hot Sheet
Trade JPM Now!
Join SI Premium – FREE
JPMorgan (NYSE: JPM) CEO Jamie Dimon is speaking at a Barclays Conference today.

In general, Dimon said the London whale trade could lose more money this year, something many investors have been expecting. No specifics on the amount were given by Dimon. The problem, though, is mostly fixed.

Dimon also noted that it is "always possible" to break-up JPMorgan, if needed, though the process would take a couple of years.

On bank's buyback plans, Dimon said that initiative would start sometime in the first-quarter of 2013.

Shares of JPMorgan are ticking slightly higher on the comments, up 1.6 percent on the session.

Serious News for Serious Traders! Try Premium Free!

You May Also Be Interested In

Related Categories

Guidance, Stock Buybacks, Trader Talk

Related Entities

JPMorgan, Barclays, Jamie Dimon

Add Your Comment