Jamie Dimon

The JPMorgan Chase CEO sounded a familiar note on Tuesday on a call with journalists when he casually compared his bank to competitors in Silicon Valley.
Answering a question about whether the bank’s stellar performance has driven its stock price as high as it will go, Dimon said one nature of its revenue – much of it being very stable – is similar to a subscription-based model that’s being valued at 10 times revenue.
Dimon’s comment shows how bank leaders are trying to make a case to an investing community currently in love with the tech sector that they have some of the same characteristics.
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Jamie Dimon may have just a tiny bit of tech envy.

The JPMorgan Chase CEO sounded a familiar note on Tuesday on a call with journalists when he casually compared his bank to competitors in Silicon Valley. Answering a question about whether the bank’s stellar performance has driven its stock price as high as it will go, Dimon said one nature of its revenue – much of it being very stable – is similar to a subscription-based model.

Investors typically value banks like JPMorgan on the basis of tangible book value, …read more


Source:: Businessinsider – Finance

      

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