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If One More Person Gives Jamie Dimon Shit About The London Whale Leon Cooperman Is Just Gonna Snap

JPMorgan disclosed on May 10 that it had a $2 billion trading loss because of riskier-than-expected credit securities. Omega sold about two-thirds of its position the next day, taking a loss: The shares tumbled 9 percent on May 11, closing at $36.96. They traded at $36.78 yesterday. At Omega’s staff meeting in May, one of the portfolio managers suggests that JPMorgan shares may now be ridiculously cheap. Cooperman launches into a tirade about how Dimon has been unfairly pilloried by Representative Barney Frank and other critics. “I’m incensed by some of the sh– you’re reading,” Cooperman tells his managers. He says he’ll hold on to his remaining shares as a vote of confidence in Dimon. [Bloomberg Markets]

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63 Responses to “If One More Person Gives Jamie Dimon Shit About The London Whale Leon Cooperman Is Just Gonna Snap”

  1. Guest says:

    Atta boy! Stick to your positions no matter what market trading and common sense tell you. Might want to try getting some LMBA or Crimex deliveries before all that shit disappears!

  2. Viky P says:

    Nice office…

  3. Guest says:

    I just want to know what Jim Cramits take is on JPM, I'll hold based on Jimmy boys TV show…..

  4. ... says:

    Do you have trouble getting up, or are you just happy to see me?

    – UBS Doggy Style Quant

  5. Guest says:

    Who is Barney Frank?
    Did he mean to say 'Bawney Fwank'?

    – UBS Sensitivity Quant

  6. StayNinIt4U says:

    This next billion's on me Jamie. Enjoy. Love ya big guy.

    -Cooperman

  7. DingALing says:

    "Leave Jamie Dimon alone! He just lost $2B! He is dealing with regulators! He had to fire his head of risk management for that division! He has an unreliable London Whale! Leave him alone!"

    -weird ass dude from the youtube rant about brittney spears several years back

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