JPMorgan shows juice is in reserves, not earnings

July 15, 2010

Don't count on a rebound in earnings to boost U.S. bank stocks. That's the message to glean from JPMorgan's second-quarter results. Granted, the bank's performance was hardly disastrous, especially considering the slowdown across the industry in trading in May and June. But almost a third of the bank's profit came from a $1.5 billion gain on releasing loan-loss reserves.

U.S. bank stocks should double — eventually

May 31, 2010

Is now the time to buy U.S. bank stocks? Many are earning money, look well capitalized and have reported three straight quarters of declining loan losses.