Happy Saturday all! We kicked off earnings season this week, as you all know and sure wasn't pretty. I'd anticipated a top line miss for JPM but a double miss for both JPM and Morgan Stanley doesn't sit well with me. And, to top it off BlackRock had a double miss too. I thought it might make sense to look into JP Morgan since, they cover all three - investment banking, commercial / corporate banking and retail banking. Before we begin, here's a cheat sheet for looking at bank earnings that I usually post every quarter. Banks have unusual ways of reporting and a different set of metrics by which they judge their results :
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