The following video is part of our "Motley Fool Conversations" series, in which senior analyst Anand Chokkavelu, CFA, discusses topics around the investing world.
With the news furor around JPMorgan Chase's $2 billion-plus in trading losses, you'd think its second-quarter earnings would be dreadful. The losses will hurt (especially if they are double or triple that initial $2 billion figure), but don't bank on dreadful earnings. Reuters is reporting that JPMorgan has booked gains to the tune of $1 billion by selling profitable securities, tax consequences be darned. In the video, Anand explains how this is yet another perfectly legal trick up the sleeves of big banking.
The financial heavies are getting a lot of press these days. And much of it is negative. But there's one small bank that's flying under the radar, and it has some of the best operational numbers you'll ever see. The Motley Fool features it in our brand-new free report: "The Stocks Only the Smartest Investors Are Buying." We invite you to download a free copy. To find out the name of the bank Warren Buffett would probably be interested in if he could still invest in small banks, just click here.
Anand Chokkavelu owns shares of Bank of America, JPMorgan Chase, and Citigroup. The Motley Fool owns shares of Bank of America, Citigroup, and JPMorgan Chase. Motley Fool newsletter services recommend Goldman Sachs. Try any of our Foolish newsletter services free for 30 days. We Fools don't all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy.
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