Jim Cramer Praises JPMorgan's Jamie Dimon and Voices Concern

JPMorgan Chase & Co. (NYSE:JPM) is one of the stocks Jim Cramer recently discussed. Talking about the stock, Cramer commented:

“How do we judge the so-called real economy then? Well, first, I do like to look at the banks. They’re the backbone of the real economy, and they played a positive role today. JPMorgan reported its always good numbers, but its stock had run up so much yesterday, it ended up giving back some gains. Didn’t, wasn’t representative of the action…

The old cockroach theory. You know, there’s never just one. That’s something Jamie Dimon mentioned while he was talking about JPMorgan’s excellent quarter this morning. What’s the cockroach here? He was referring to the downfall of First Brands, some auto parts company I didn’t even know of until it collapsed, exposing billions of dollars in debt that someone never should have lent them in the first place… Look, Jamie’s a fantastic CEO, and I’m never going to disagree with him on anything banking-related, but he hasn’t commented enough on the rampant speculation in the stock market, and that’s got me on edge.”

JPMorgan Chase & Co. (NYSE:JPM) provides financial services, including consumer banking, lending, payments, and credit products. In addition, the company offers investment banking, asset management, and wealth advisory solutions.

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Disclosure: None. This article is originally published at Insider Monkey.