Did Bruno Iksil make the bank -$2 billion? -$9 billion? -$20 billion? Was this all just a hoax and he actually didn't lose any money at all? JPMorgan will let us know tomorrow at 7AM. Standard Price Is Right rules, closest without going over. Guesses in by 4PM today. Winner will receive his or her choice of a visit from the sandwich fairy, a highly coveted whale bath toy, or an I heart Dealbreaker button.
Despite Jamie Dimon's promise that JPMorgan will be "solidly profitable" for the quarter, some are skeptical given the growing estimates of Whale-boy's losses. According Mike Mayo, the bank "will only make $727 million...including $4 billion of losses in the unit that made the bungled bet [though] if the losses exceed $5 billion, JPMorgan could make an overall loss." Barclays' Jason Goldberg thinks things are gonna be okay here, and sees the bank making $3.3 billion, assuming you know who will have only lost it $3 billion when all is said and done. And yourselves? Start considering your predictions now, as come July 13, there will be a visit from the Sandwich Fairy and a coveted bath toy for whoever comes closest without going over. Will The Whale Swallow JPMorgan's Second-Quarter Earnings [Dealbook]
And the winner of dinner at Peter Luger, an I Heart Dealbreaker button, a Greenlight Capital messenger bag, a Pershing Square golf umbrella, Third Point running sneakers, and a Blackstone overnight bag that you could legitimately fit several bodies in is: Benjamin W., with 154 points and Kentucky for the win. BW, please email us to collect your goody-bag. As was the case last year, the nine people who nearly won but, in fact, still lost, will be receiving a consolation in the form of an I Heart DB button. Those people are: Economic Prophets Frank F. GM Bones Katherine L. Lauren W. Matt R. Wildebeest Ben J. DHP Get in touch to let us know where the enviable prize should be sent.