Q: Is JPMorgan Overinflated?
The banking industry has segmented into a handful of above-average performers and JPM is the largest leader of these "winners"
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The Institutional Risk Analyst
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Banks | Markets | Finance
R. Christopher Whalen
Oct 187 min read
Update: Citigroup, Bank America and Goldman Sachs
How is Goldman going to extricate itself from this profoundly unattractive business with AAPL without destroying Apple Card?
443 views
R. Christopher Whalen
Sep 162 min read
IRA Bank Book Q3 2024 Industry Survey
The Q3 interest rate rally still leaves the industry with a negative
capital position since the average securities yield is only 3%
367 views
R. Christopher Whalen
Sep 115 min read
WGA Bank Top 100+ | Large Banks Retreat, Small Banks Rise
The big story nobody is discussing is the fact that large banks led by JPM, BAC and TFC continue to sell off briskly
420 views
R. Christopher Whalen
Aug 257 min read
Universal Banks: Should TD Buy Schwab & Sell Its US Operation?
SCHW needs to take advantage of their strong operating leverage and repair some needless damage done during COVID by inept bank management.
719 views
R. Christopher Whalen
Aug 136 min read
Bank of Nova Scotia + KeyCorp = ??
If you were really, REALLY going to do mortgage warehouse lending in today's market, KEY would be the better platform, not BNS.
547 views
R. Christopher Whalen
Jul 175 min read
Bank Earnings: JPM, BAC, AX, GS & SCHW
GS saw loss provisions fall slightly in Q2 2024 to $282 million but the number was still $600 million in the first half of the year...
478 views
R. Christopher Whalen
Jul 710 min read
Goldman Sachs Fails Fed Stress Test
Notice that the Fed stress test is silent on trillions of dollars in mark-to-market losses facing US banks from COVID-era securities
3,020 views
R. Christopher Whalen
Jul 37 min read
Who Leads the Asset Gatherers? | SCHW, MS, GS, AMP, RJF & SF
The larger banks led the way in January and February, but today the top 25 names in terms of total return include many smaller banks.
594 views
R. Christopher Whalen
May 246 min read
Interest Rates, Deficits & Inflation
We think it is reasonable to push expectations of a cut in the target for Fed funds into Q1 2025.
817 views
R. Christopher Whalen
Mar 67 min read
Does Kathy Hochul Have a New York Community Bank Endgame?
FDIC Chairman Gruenberg ought to tell New York State to take over the rent controlled loans from Signature, NYCB and other lenders...
2,012 views1 comment
R. Christopher Whalen
Jan 249 min read
Interview: Bill Kennedy of RiskBridge Advisors
Volatility remains perhaps the biggest risk factor today, mostly because of a lack of visibility on unexpected risks.
789 views
R. Christopher Whalen
Nov 29, 20236 min read
Update: Flying Fintechs & Zombie Banks
COIN has been helped by a groundswell of positive comment about crypto in 2023...
660 views
R. Christopher Whalen
Oct 30, 20234 min read
Rate Peak Emerges, Deflation Looms
One of the effects of QE has been making many banks and real estate investors insolvent, a precursor to debt defaults.
1,507 views
R. Christopher Whalen
Oct 19, 20236 min read
Are Bank Stocks Undervalued? Which Ones & Why
Large universal banks that ply the capital markets and use essentially infinite leverage in the derivatives markets face challenges
1,030 views
R. Christopher Whalen
Oct 15, 20237 min read
Bank Earnings Takeaways -- JPM, WFC and Citi
Bank earnings can be best described as cautiously mediocre, but as usual the Street proclaimed that three banks "beat the estimates"
728 views
R. Christopher Whalen
Sep 27, 20239 min read
SoftBank as Systemic Event; Update: Charles Schwab & Co
The public behavior and decision-making processes of SoftBank suggest that the organization is in trouble.
1,280 views
R. Christopher Whalen
Sep 21, 20236 min read
FSOC Frets About Nonbank Risk; Goldman Sachs Stepping Back?
GS has the weakest position in terms of funding of the top-ten banks and no real narrative for the business post-Marcus.
615 views
R. Christopher Whalen
Aug 23, 20236 min read
Update: Goldman Sachs + Citigroup; Interest Rates Higher Longer?
We continue to believe that combining Citi and GS may make sense in terms of consolidating two capital markets businesses
634 views
R. Christopher Whalen
Aug 2, 20235 min read
Fitch Downgrades US to AA+; Fintech Stocks Soar on Powell Inflation
S&P was the first to call out the growing lack of fiscal discipline in Washington, downgrading Uncle Sam in 2011
704 views
Christopher Whalen
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