With The London Whale Dragging On, Should You Sell JPMorgan Chase & Co. (JPM)?

Keep calm and carry on
2012 was a strange year for JPMorgan. The superbank came through the financial crash pretty clean, instead ending up with this rogue-trading scandal to deal with. The London Whale came seemingly out of nowhere, and the scandal made for great soul searching on the part of Dimon, leading him to turn the bank’s top leadership upside down in an effort to ensure such a thing never happens again.

The good news is, Iksil’s disastrous positions seem to be mainly unwound. As such, investors shouldn’t be seeing much more cash — if any — coming off the balance sheet to pay for the London Whale mess than the $6 billion-plus that already has. The notion that there’s not that much more money to be lost out of the London Whale is highly encouraging to me, an investor in the bank.

And though there might be a few black marks waiting out there for JPMorgan in the form of the Senate investigation, and possibly even FBI charges, I believe the worst of the London Whale debacle is behind the bank. As such, my money is staying put, and so should yours.

The article With The London Whale Dragging On, Should You Sell JPMorgan? originally appeared on Fool.com and is written by John Grgurich.

Fool contributor John Grgurich owns shares of JPMorgan Chase. Follow John’s dispatches from the bleeding heart of capitalism on Twitter @TMFGrgurich. The Motley Fool owns shares of JPMorgan Chase.

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