JPM investor day?
Do any of you have a transcript or a copy of Jamie Dimon's remarks at investor day? The JPM website has the audio, which is so poor quality it sounds like the company recorded it in the 50's on tape, and someone just discovered it after it was half eaten by a cat.
JPM pointed out they nearly doubled TBVPS in the last 5 years, despite a financial crisis, a mortgage crisis, regulation, occupy wall street etc.
Someone was pointing out that in 30 years, PEP would have a 15% dividend based on today's prices. BAC could conceivably have a 100% dividend in 30 years. If they can average a 10% ROE over 30 years, their book value will go from $20/share now to $320/share in 30 years, earnings of $32/share, and dividends of $16/share. Tada, a 200% dividend :P.
JPM mentioned that mortgage costs would decline in 2H this year - they put it at a $3.5Bn uplift. It's gotta be even more for BAC. |
