Hello traders everywhere! Adam Hewison here, co-founder of MarketClub with your mid-day market update for Friday, the 15th of March.
The Whale Trade That Won't Die
I'm sure by now you've heard of the disastrous whale trade that was made by J.P. Morgan (JPM) that came out of their London office. This trade cost J.P. Morgan a cool $6 billion. Well, the folks responsible for this trade are getting grilled on Capitol Hill today and I doubt seriously if anything will ever come of the "kabuki theater." Today's hearings allow Senators to pontificate and look very serious, as it plays well in their voting districts. Normally these type of Washington theatrics have very little effect on what's going on in the real world and in the marketplace. Today we will be looking at J.P. Morgan to see how this stock has performed so far this year. Continue reading "Today's Video Newsletter: The Whale That Swallowed J.P. Morgan"