Jim Cramer on JPMorgan: "It Will Always Bounce Back"

JPMorgan Chase & Co. (NYSE:JPM) is one of the stocks on Jim Cramer’s radar recently. Cramer discussed the company’s earnings during the episode and said:

“The earnings season started today, along with softer inflation, courtesy of a decent consumer price index figure that came out this morning and an insane new love for retail… JPMorgan is the world’s biggest bank. We all know that. But CEO Jamie Dimon, cautious guy, and whenever the bank reports, he tends to say things that the market doesn’t want to hear. And that’s what happened three months ago when he talked about cockroaches in the credit market. He sent the stock into a one-day nose dive that crushed the bank supporters. This time, JPMorgan actually reported a weaker-than-expected quarter, not enough underwriting, and the stock eventually got hammered again. Worse, Jamie was back urging caution and getting tough about the right to charge high fees for credit cards to make up for losses. That combination created a tsunami of selling. We saw the same thing last time. I say wait a day or two, just like last time, so you can gradually buy this one on weakness. Why? Because it will always bounce back. How do I know that? Because it always has.”

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

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