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We're joined now by Anton shots of -- -- capital advisors he runs the Burnham financial industries and financial services funds.
And then Robert Atlanta sure -- he is out in Arizona I wanna start with Anton -- Anton do you have your full say.
In Jamie Dimon.
Well got enough -- special on the stock.
The bloom is not off this rose if you -- knocked off so I'm not sure to achieve its prior highs.
But certainly this quarter.
It was good enough I think the disclosure was good enough.
-- -- -- concerned about Libor and all the US banks and their involvement because -- restore -- But for -- it is today there's a party in I think.
The other is there's a party is we've seen a a pretty strong move up in risk assets periods are they getting these -- rates move up stocks today.
But what does -- say I had to stay with you really quickly and time about Jamie Dimon and I I just go back to the fact.
Bit this loss happened under his watch the you had a reporter at the Wall Street Journal who heard about the way all.
In London and Jamie Dimon did not know about it is this bank not only too big to fail but too big to manage at this point.
Well I I think that big US banks have to be this size to be competitive globally I mean you can't just shrink from the make it easier to manage I think a lot of the risk isn't taken out of these banks because the capital ratios are -- tremendously higher than they used to be.
And you know that thing you're gonna happen in in company that hundreds of thousands of employees need to do that any company.
Around the world or -- even a manufacturing company that things can happen but -- -- the -- -- -- -- obviously -- was well -- because -- reported -- profit.
And I think that's pretty impressive but yet Jamie Dimon certainly has responsibility -- the company he manages and I think he's acted.
In a rational fashion to try to you know manage losses mitigate them.
And -- deal with the exposure.
Robert -- she do you sold the stock before this trading loss was disclosed argue a buyer of it hearing what you heard this morning.
Not -- were staying away from the stock I think this morning desire earnings news just really reiterated invalidated why we have not held.
Any financial stock from the last year and a half.
I mean this is really more of the same which JPMorgan.
We're hearing about now that like you you mentioned they're possibly some improprieties in the marks that they were taking in the first quarter.
How they might have to go back and restate those earnings and who knows if there's going to be criminal charges so I mean what are we getting here next what's gonna be next quarter surprise that -- Shareholder lawsuits coming out SEC investigation of fines I mean there's just way too many headwinds to invest in the stock like this right now Robert thank you for being here anti.
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