RE: JPMorgan Losses Stay High!!!Read back a few posts and you'll find another poster who mentioned JPMorgan! His explanation was that JPMorgan's record revenues were in part responsible for the rise in RY shares today! The problem is that JPMorgan losses have been socialized by the taxpayer, so what do record revenues really mean? Did JPMorgan actually make any money????
Well we do know that JPMorgan has taken significant losses, ($700 million so far), in their credit card division! In Q3 2008 JPMorgan made $292 million in the same division! That's a $1 billion dollar difference YOY! Do you think the Canadian banks will have some credit card losses coming down the pipe? Evidently not!
I'm not sure why you're wasting time with Canadian banks, which at best will trade sideways in the near term, when you could be in precious metals which are making new highs!
All the best,
The Bluenote