Wall Street Boss Speaks Out 📢

Table of Contents

Wall Street Boss Speaks Out

The CEO of JP Morgan is dropping bombshells about digital currencies and this bonanza earnings season. He’s the main man on Wall Street, willing to force through the change he believes in.

Jamie Dimon is the head honcho at America’s leading bank. He’s tight with all the greatest investors and acts as a soundboard for the biggest innovations in finance, none more so than digital currencies. Last year they were “for idiots,” and he’d “fire any employee who traded Bitcoin.” This year, his hatred for the cryptocurrencies got so bad that he had to start his own, JPM Coin!

It’s pegged to the stable dollar, but “it’s not money,” the bank says. This “not money” money is only available to institutions, but one day the common folk might be allowed it, the bank says. Either way, it’s a competitor to Facebook’s Libra, and Dimon is bringing the fighting talk to the table. According to him, Libra “will never happen!”

He also wants to bin quarterly earnings releases, feeling like a player in a silly game just a week into this quarter’s earnings avalanche. Millions of investors treasure the transparency of these regular updates, where surprise numbers can move stocks. However, for the chief executive 1%, the paperwork is just too “onerous.” Dimon even threatened to take JP Morgan off the stock market!

Don’t worry, that’s never going to happen. However, investors could be headed for a face-off with their chosen companies if this issue isn’t resolved. Stocks would crumble if the earnings circus were suspended, so let’s make the most of it while it lasts!

Share:
More Posts
Load More
Get your daily Invstr Crunch

Get the market news and updates you need, delivered to your inbox or available on our daily podcast.

Facebook Twitter Youtube Instagram Snapchat Tiktok
learn
products
plan
Who we are
blog

Risk Disclosure:

Invstr is not a bank and banking services are provided by Vast Bank, N.A.

Brokerage and Banking services are currently only available to U.S. residents.

Invstr app and web services are provided by Invstr Ltd. Advisory services are provided by Invstr Financial LLC, an investment adviser registered with the Securities Exchange Commission (SEC) details of which can be obtained here. Securities brokerage and custody services are provided by Apex Clearing, a broker dealer registered with the SEC and a member of FINRA and SIPC. There is no bank guarantee on securities and securities may lose value.

Investing involves risk and can lead to losses. Past performance does not guarantee future results.

Invstr app and web services are provided by Invstr Ltd. Invstr+ advisory services are provided by Invstr Financial LLC, an investment adviser registered with the Securities Exchange Commission (SEC). Securities brokerage and custody services are provided by Apex Clearing, a broker dealer registered with the SEC and a member of FINRA and SIPC. There is no bank guarantee on securities and securities may lose value. Vast Bank N.A. a nationally chartered bank and member of the FDIC, provides the banking products, including the products and services related to digital asset accounts. As with any asset, the value of Digital assets can go up or down and there can be a substantial risk that you lose money buying or holding digital assets. You should carefully consider whether trading or holding Digital assets is suitable for you in light of your financial condition. Your digital account does not support wallet to wallet transferring of your digital assets (i.e. cryptocurrencies) outside the platform. Any Digital Assets in your digital asset account are not insured by any government entities, including but not limited to FDIC or SIPC. The Invstr Visa® Debit Card is issued by Vast Bank, N.A. pursuant to a license from Visa U.S.A Inc and may be used everywhere Visa debit cards are accepted. Invstr Ltd, Invstr Financial LLC and Invstr Securities Ltd are subsidiaries of Marketspringpad Holdings (collectively “Invstr”) and Invstr is solely responsible for the application services and website content.

Watchlists provided when users first access the service are not a recommendation to invest. Instead they are provided to help users better navigate the service. Users are free to edit and create their own watchlists. From time to time, Invstr will suggest instruments solely based on an individual’s interest and the interest levels of the Invstr community. The statistical and portfolio builder models generated by Invstr do not reflect actual investment results and are not guarantees of future results. Comments provided by Invstr leaders, influencers or members of the Invstr Community are not recommendations and should not be construed as such. Invstr does not endorse the content or the positions posted by them. Their investment approach, and that of the models provided by Invstr, may be different from yours and may not be appropriate for you.