저자: JimCramer · 외국인
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결론: 집 크레이머는 JP모건을 '이 시장에서 소유할 주식이 아니다'라고 말했으나 본인은 보유 중이며, 웰스파고 턴어라운드에 더 높은 상승 여지를 봄. [발언 배경] 자막상 JP모건 상향, 웰스파고 중립 상향 등 애널리스트 콜을 두고 토론. [JP모건] 크레이머는 '이 시장에서 소유할 주식이 아니다'라고 했지만 본인도 JP모건을 보유 중이라고 밝힘. 분산투자 때문이라고 설명. [웰스파고] 찰리 샤프 CEO의 비용 절감(약 100억 달러 목표)과 디지털 전환을 높게 평가. 턴어라운드 스토리로 상승 여지가 크다고 봄. 다만 분기 실적은 전반적으로 부진했고 대손충당금은 84억 달러로 예상(약 65억)보다 큼. [출연자 견해] 조는 JP모건 보유, 턴어라운드 후 2년 내 주가 상승 기대. 피트는 JP모건을 업종 내 최고로 보며 트레이딩 수익이 분기마다 지속될 것으로 봄. 다만 대출 이슈 해소까지 시간이 걸려 주가 발목을 잡는다고 함. [금융주 전반] 모건스탠리, 골드만삭스, 나스닥 롱 포지션 언급. 트레이딩 수익 강세가 일시적이 아니라고 판단하며 변동성이 높은 환경이 지속된다고 봄. [리스크] 경기 및 코로나 백신 등 경제 회복 여부에 따라 대출 손실이 좌우됨. [기타] 웰스파고 CFO 교체 등 임원 교체가 10월 이후 6명째라는 점 언급.
다듬은 글
JPMorgan got upgraded to overweight Wells Fargo upgraded to neutral both at Atlantic equities let's kick these around Jim what he make of these calls thatch was not worth anything asterisk to the euro you can't buy these stocks I mean look we're gonna Stanley reported an amazing quarter amazed it's become a fantastic non-bank doesn't matter can't get out its way Goldman Sachs down absolutely hey what's the edge to this there's no edge to this piece I read this piece I said okay you know yeah I mean and I said I know people gonna reference it but I bet it doesn't work and work meaning I bet you JP Morgan Wells Fargo go damn well thank you very much the fact is I do I do like the way Charlie Scharf came in he has become the ax man cometh is there anybody that's gonna be left it wells even I'm even got the chairperson changed charlie is just he's in there and he is hacking ten billion dollars worth of expenses and making that place into a powerhouse for digital that's why the stocks not going down wait did you did you just say that this group is is you didn't say the word uninvested well but that's what I heard well it's it's not cold but it is loyal it is it's like well I mean PayPal's good and that's not a finance company so here's good you won't you own JP Morgan though you're wrong you know there's first amendment I got every right to be stupid JP Morgan is not the stock to own this market I'm really sorry I own it because of some silly thing called diversification and I just feel like you there's a piece goldman sachs balance bear review repair and talking about diversification how it could hurt you i have single stock risk in JP morgan fortunately have single stock risk and apple and in facebook and alphabet and Microsoft for my trust but I've got it in for JP Morgan I'd rather actually be in Wells Fargo in the JP Morgan right now because sure really yeah that is one heck of a statement I can't say I don't even believe I'm hearing anything boy again the Scharf is a winner Jamie Dimon is not I didn't say that saying that Scharf is going to take a very fat bank and turn it into Ali mene mene lending machine Wow JP this year quote JPMorgan is not the stock to own in this market I'm saying Charlie sharp is the person to bet on right here and I don't own well my trust is not on Wells Fargo but yes when they when he can the CFO he can't Shrewsbury I mean this guy and he put some guy in who's a child what's the guy's like he's like forty stuff you you own look you you you you made that move into Wells Fargo people tried to call you on that - I don't know if I was in that cot but I got beaten up pretty good a little bit it's not an it's not an easy story right but it's a turnaround story and turnaround stories are never easy and with the CFO of news yesterday that's the sixth executive that he has hired since October I mean he isn't completely turning this company around the other interesting thing I thought in the quarter I mean the quarter was just just horrible in every which way but I think the credit reserves of 8.4 billion I was expecting about six and a half billion so perhaps maybe he finally has gotten his arms around this thing and he's actually being conservative on the reserve charge well see what happens with the economy and all that but Joe you know look it's it's not an easy it's not an easy bank to own because they don't have trading and you got net interest income and net interest margins going in the wrong direction but a turnaround is a turnaround and I totally agree with Jim though I think in two years time the stock is gonna be higher so Joe you own you own JP Morgan I do I own JP Morgan and registers all over it oh yeah listen he threw ketchup all over it there's been ketchup barbecue sauce tomato sauce all over it for the last two years these are challenged financials JP Morgan to me is best in breed I've been trying to sell myself on that I've been kind of playing the range back and forth I do believe a lot of the comments from Jamie last week after earnings send the signal that this this franchise is moving in the direction that's about the stake holder so I think the ESG capacity as it relates to financials there's a small element as to why you want on JPMorgan but I think Jim's right I think in an absolute term when you measure where Wells Fargo is today versus where JP Morgan is today and think about where they could be 12 to 18 months from now clearly the upside is in Wells Fargo but I'm just not willing to incur the potential risk and kind of wait for that in addition to that I also think I'm long Morgan Stanley I'm long Goldman Sachs I'm long the Nasdaq and I'm long all of those because of the trading environment and I think people were dismissive of the significant trading revenue that we witnessed in these earnings release as a one-off I see this as going to be consistent in the coming quarters the active management will be strong that's what Blackrock told you volatility remains relatively high given where the S&P 500 is so I think the trading strength that we witness is going to stay with us and that's why I have those three financial feet I'm gonna go to you you you have these new calls in in JP Morgan and I cannot remember I rolled I cannot remember another time that I've heard anybody know less Jim Cramer say that JP Morgan and this is at any time yeah JP Morgan is not the stock to own in this market Pete yeah I was a little bit surprised to hear that myself I think that the Joe brings up a really good point though the trading volume JP Morgan Goldman Sachs Morgan Stanley that was almost discounted initially all these stocks popped they spiked actually believe it or not JP Morgan finally got back over a hundred which is amazing because it's been trapped under 100 for a while now but that trading volume is something and I think Jill brings up a really good point that's gonna be there quarter after quarter I think because the new environment of where we are right now all you've got to do is look at the derivatives world we're averaging about 30 million contracts a day into in the derivatives world and in outside of that you can just see everything else that they're trading the fix everything that it seems like where they make a lot of money in these major banks the problem is when will they be able to look past the loan issue and that's not going to be for a while that's going to be with a vaccine that's going to be something down the line and that's what's the basically it's the anchor holding all of these names down but I'm as shocked as you are Scott when he said that Hut JPMorgan I was absolutely stunned I really was no it's ty it's what look Scharf is a winner char put a lot of stock 228 he'll get it there I don't know if you guys ever met Charlie I mean I remember meeting Charlie the first time and yeah yeah I think it was maybe 35 seconds in he told me I didn't know I was talking about and then like I saw him years later and he said you know you know you still don't know what you're talking about and I love him I love him he is the moat he is so tough he's the toughest CEO get this you'll love this Scott he said he's Belichick okay he's Belichick get your job done or you're out before was kind of like hey how's it going no he's Belichick and he doesn't like to lose and don't take that that's a smirk okay heat in that picture he's laughing at you Izabella check on Cleveland or Isabella check on the Patriots does he have Tom Brady I mean people forget why she's really nice I don't know there's no accounting for taste you
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