JP Morgan (NYSE: JPM) has been one of the only financial investment companies in the entire world to report an enormous profit. The company has posted a 24.4 billion dollar profit in the year 2015. The company stocks rose by eight percent last week at closing bell. The company stock has risen to a little over 57 dollars per stock. The general mood in the company headquarters is cheerful and elation. The company CEO Jamie Dimon was positive on his outlook and general strategy going ahead.
Performance in spite of conditions
The general mood in the financial sector however, is that of gloom. The markets especially related to the investment firms and financial sectors have not been doing well considering the kind of commodity slump that seems to be ongoing with oil and precious gems and metals. The oil market has dropped to one of the record lows, and is worrying the market, threatening and looming of another global recession. The market seems to be undergoing a stunted growth all of a sudden. Until the third quarter last year, there seemed to be a steady form of growth, however, the last quarter was where the most growth of certain sectors occurred while leaving behind certain futures markets like oil.
JP Morgan was one of the only financial firms that were able to boast of a robust profit. Many still wonder how the business model generated by the CEO Jamie Dimon has worked to such phenomenal success even though the rest of the markets have failed to rake in the kind of profits. The feat carried out by the company is being commended in the financial sector especially considering the kind of slump that all firms are undergoing. The firm closed at a five percent increase last week.
The confident strategy
In a show of confidence and faith in his strategy, the JP Morgan CEO Jamie Dimon invested over 26 million dollars of his personal wealth into the company shares, wherein he bought out half a million company stock. Many claim that the move was not as much a matter of wise investment, but was more of a move to prove the dominance that the firm currently poses over the market. Most people state that it was a calculated PR campaign to inspire and elicit additional investment by people and Wall Street traders. Including the recent purchase, Jamie Dimon owns 6.75 million shares in JP Morgan.