wwwPosted Mar 15th 2009 9:45AM by Michael Shulman
Filed under: JPMorgan Chase (JPM), Stocks to Sell, Financial Crisis
This may be the first place you read about JPMorgan Chase (NYSE: JPM) being a zombie.
It speaks, and occasionally thinks, but it holds toxic mortgages, specifically something called option adjustable-rate mortgages (ARMs), it acquired when it bought Washington Mutual.
The company's ability to grow will be constrained for three to five years minimum.
True shareholder value: considerably less than its current price
Michael Shulman is a contributor to OptionsZone.com.
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