ChristopherCarrollSmith

JPMorgan looks resilient to recession

Long
NYSE:JPM   JP Morgan Chase
I read an interesting WSJ article this morning on JP Morgan. It seems that CEO Jamie Dimon believes JP Morgan can maintain its dividend even if GDP dips 35% this year. The bank has a large cash pile and a diversified portfolio because Dimon has long been designing JPM to be a "port in a storm."

www.wsj.com/art...ion-11586176451?mod=e2tw

JPM currently has a 4% dividend. It's possible that if you wait a while, the dividend yield will get even better. But 4% ain't bad, and if JPM believes it can maintain that, then this is probably the company to own in the banking sector right now. Also notice the positive signals on MACD and engulfing candle indicators.
Comment:
I should add a caveat here that I think banking is an extremely dangerous sector right now because of the risk of defaults and bankruptcies. Personally I'm almost completely out of the sector, and I think probably a ways from the bottom. But if you want to have banking in your portfolio for diversification, this is probably the one I'd choose.

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