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| Re: JP Morgan Chase Execs Vaporize $2B (941440) | |||
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Re: JP Morgan Chase Execs Vaporize $2B |
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Posted by Charles G on Mon May 14 17:29:22 2012, in response to Re: JP Morgan Chase Execs Vaporize $2B, posted by Sand Box John on Mon May 14 14:07:35 2012. Not quite that small -- more like a $2 bill against that $100 bill. Not quite a pimple on an elephant's ass, but still not anything that would induce people to think JPM is solvency threatened.I bought the stock Friday afternoon (and have been rewarded with a further 3% drop today!) The real story is that, once again, a model that was supposed to be foolproof turned out to fail spectacularly in a tail event (and not even an extreme tail event). Sooner or later, bank executives will figure out that you don't manage risk with models -- you manage risk with real live risk controls and compliance monitoring. |
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