jamie dimon thinks so. next barney frank, the co-author of the dow frank financial reform law reacts to dimon. and let's grab a beer. that's a new digital ad campaign by anheuser-busch. but nowhere does it mention the company's brands. we'll discuss whether that's a brilliant or terrible marketing plan. coming up on "the closing bell." technically retiring, sir. with a little help from my state farm agent i plan to retire in 15 years. wow! you're totally blindsiding me here. who's gonna manage your accounts? this is a devastating blow i was not prepared for. well, i'm gonna finish packing my things. 15 years will really sneak up on you. jennifer with do your exit interview and adam made you a cake. red velvet. oh, thank you. i made this. take charge of your retirement. talk to a state farm agent today. hello. i am technology that is changing investing forever. i am a fully automated investment advisory service. i can help you choose the right portfolio. monitor it. and even rebalance it. i've been called in

i always like jamie dimon's letters, most transparent.t a lot of people missed is the fact that jamie dimon says there will be another crisis, he doesn't know. when he says the system is stronger than it was in 2008. he's not saying it's coming tomorrow. making a prediction there will be one, which isn't quite a prediction. here's where it gets interesting, and you need a degree of translating to understand what's going on in jamie dimon's mind. liz: he got your name wrong. >> they spelled my name wrong? thank you. anyway, inventories are lower, because of the multiple new rules that affect market making, including for higher capital and liquidity requirements and the pending implementation of the volcker rule. you might read through that and not understand it. i understood what he meant there. i went back to his people and got this translated. what he's essentially saying is the next crisis, whenever that comes, is likely to be more severe than the 08 crisis. why is that? one of the mitigating fact sors big banks could hold onto bonds so

what jamie dimon is talking about.irst of all, we know that crisises are just part of the markets. they ebb and flow just like bull markets do. what happened since 2008 because of the new regulations, broker dealers no longer have the balance sheets they used to. we have seen corporate debt explode. we've shown this chart before where you see dealer balance sheets which is the orange line there. coming off high corporate debt skyrocketing. there's no market makers out there. people won't buy these corporate bonds. so if you have a crisis and people want to get out of this, you're going to have a disorderly selloff in the bond market which will raise rates and will cause companies like apple and i'm not singling them out, any company who has been using this money for buybacks to stop being able to do that. whether it's because it's too costly. whether it's because nobody wants to buy them because there is no liquidity. but that's the link we're talking about. that's the mechanism that gets it from the bond market to the

jamie dimon and sheila bayer, separate and equal worries.key issue facing america. while republican presidential candidate rand paul just wrapped up a rally in south carolina with senator lindsay graham, john roberts is on the ground there in charleston. first and foremost why is south carolina so important to g.o.p. contenders? >> oh it's so important to g.o.p. contenders because every year besides 2012 it has picked the person who would be th

jamie dimon is an excellent manager.t your expectations right -- none of these banks are getting back to the multiples they had precrisis. that is simply not happening. through the cycle of returns on equity will be three or four points lower. michael: what is your overall take on earnings this season? pat: 15% of gdp is exports and 40% of earnings come from outside the u.s. where it will hurt most is the companies that have relatively low topline growth. large industrials especially consumer goods companies. colgate were a food company where at best they will do 6% topline growth. suddenly you are looking at a couple points of topline growth, which is really painful. when you don't have robust organic growth that's where you will see the biggest effects. betty: i want to get back to what patches to set about banks. jpmorgan will not get back to the multiples we saw before the crisis. do you agree with that? michael: yeah. but we're talking about -- pat was just saying that wells fargo was at 1.7 times -- jpmorgan is one

crisis warning, why jamie dimon says another big one is coming.t it could look like and how to protect your money. crude reality, fidelity four star fund manager is john dowd joins our summit where he's placing his bets now. we begin with that warning from jpmorgan's ceo saying in his annual letter to shareholders, some things never change, there will be another crisis and its impact if felt by the financial markets. going on to say no investors will be safe. a very provocative piece he's written on page 32 of the 38 page letter in terms of what's going to cause it. they're not going to guess at the potential cause but you can say geopolitical, commodity price collapse, bubbles, all the things we have a' been talking about lately. >> no doubt about it. why we try to pound the table when we see something like this in terms of volatility is we're underneath the 50-day, the 200-day for the volatility index and now today here we sit at around 14 or just below 14, that's when you want to buy. not when there's panic, not when we know of all the risks ou

jp morgan chase had jamie dimon warning shareholders about u.s. treasury.atility was a warning shot to investors and the next financial crisis could be made worse by a shortage of security. yields fluctuated by nearly 4/10 of a percentage point. the league is hiring his first full-time female referee. sarah thomas has been officiating football for 19 years and earned high marks after calling a preseason game last year. olivia: still to come we dig a little deeper into that letter to shareholders from jpmorgan bosts jamie dimon. a look at the upcoming elections in the u.k. alcoa kicked off earnings seasons unofficially yesterday afternoon. a little bit better than expected. with the huge slump and commodities come are we in an earnings recession? dollar bulls are booking bill is in the south of france. the euro trading at $1.30 today. a strong dollar might be good for your travel plans but it's not clear what the impact is going to be on your part leo. -- portfolio. we keep hearing that the strong dollar is going to be negative for earnings lots of companies

here is what dimon said. the banking system is far safer than it has been in the past but we need to be mindful of consequences of myriad of new regulations particularly if we enter into a highly-stressed environment. i sat back and thought about this basically he is saying that government regulators that is on their own, could create a situation where we have a financial crisis. so the very thing that is supposed to be saving us, keeping banks in line their sizes down, keeping us safe, doing just the opposite. do you agree? >> well, first of all, you have regulators now regulating the regulators. they're just trying to, many of them are trying to justify their own existence and that's potential problem. lit is dodd-frank, whether obamacare, whether epa and a lot of regulatory agencies they're creating more and more and more red tape for businesses and individuals. so we need to have good regulations. regulations that make sense. also you have to have a congress and president that is willing to look at regula

david: jpmorgan jpmorgan jamie dimon arguably the most powerful man in the banking world has a warning. we'll debate what it is and break down the call. liz: the resume' is a gateway to getting a job initter view and nabbing the job itself. new recruiters are dispelling ideas how your resume' should look and what should be in it. the contest of what you are doing wrong with your resume' but how to fix it. that's next. david: our economic system is built on the idea of self-interest but when it comes to investing someone else's money, how does that work? do advisers interest not matter? we'll debate that coming up. the future of the market is never clear. but at t. rowe price, we can help guide your retirement savings. our experience is one reason 100% of our retirement funds beat their 10-year lipper averages. so wherever your long-term goals take you, we can help you feel confident. request a prospectus or summary prospectus with investment information, risks, fees and expenses to read and consider carefully before investing. call us or your advisor. t. rowe price. invest with confide

dimon will say about mysteryr. immelt?jpmorgan is committed to the business and it will benefit as more holdback in the midst of the higher capital requirements. ge capital -- one of the reasons they are pulling back as they are treated like a jpmorgan, but jpmorgan says only a few of us can survive in this world. tom: i want you to dive into the earnings report while we get to top headlines. very quickly, what is the ratio you look for when you died in? i am fascinated by what you look for in a 45-page press release. michael: fixed income, trading revenue, that was expected to bounce back -- it did. that may translate to some of the other banks. tom: top headlines come and we will get back with michael moore. olivia: marco rubio calls it a new american century. declaring he is in fact running for president. rubio is a 43 are sold and is also the son of cuban immigrants. he made it clear who he is running against -- hillary clinton. mr. rubio: just yesterday, a leader from yesterday -- [crow d boos] begin a tempe and for r

crisis warning, why jamie dimon says another big one is coming.ok like and how to protect your money. crude reality, fidelity four star fund manager is john dowd joins our summit where he's

so in the coptic here, jesus calls judas the 13th dimon.nd dimon was translated in the original translation as the word "spirit." >> why do you try so hard? >> but in fact, this word means demon. >> this single word changes the whole interpretation. >> i have seen a great vision. you 13th demon. >> so the judas that i saw when i did my own reconstructive work, he's not a hero. judas is a fallen angel. he's a demon. >> and behold, from out of the cloud appeared an angel. fire spews forth from his face and his likeness is defiled with blood. >> in april deconick's translation, he's not only evil, he's the most evil. >> but in 2008, previously unseen pieces of the gospel of judas begin to emerge. >> there's always one last twist with the story of judas, and here we have another one. bruce ferrini, the dealer in ohio, kept back a few of the papyrus fragments of the gospel of judas. >> these pieces are seized along with ferrini's other assets when he goes bankrupt. for the first time, the gospel of judas is complete. and its real message is far

so in the coptic here, jesus calls judas the 13th dimon.d in the original translation as the word "spirit." >> why do you try so hard? >> but in fact, this word means demon. >> this single word changes the whole interpretation. >> i have seen a great vision. >> you 13th demon. >> so the judas that i saw when i did my own reconstructive work, he's not a hero. judas is a fallen angel. he's a demon. >> and behold, from out of the cloud appeared an angel. fire spews forth from his face and his likeness is defiled with blood. >> in april deconick's translation, he's not only evil, he's the most evil. >> but in 2008, previously unseen pieces of the gospel of judas begin to emerge. >> there's always one last twist with the story of judas, and here we have another one. bruce ferrini, the dealer in ohio, kept back a few of the papyrus fragments of the gospel of judas. >> these pieces are seized along with ferrini's other assets when he goes bankrupt. for the first time, the gospel of judas is complete. and its real message is far more shocking than

here is jamie dimon on the current environment of banking. dimon: banking system is much stronger to start with. were just trying to think through the effects of some of these things. we're looking at it as a warning shot across the bow. what happens in a stress environment? people pay attention to what is going on in the markets. there might be some changes down the road. emily: he says the bank's valuation is hurt by uncertainty about future legal talks. $.10 lost $11 billion in market value after the chairman cut his stake. it left him with a 9.5 percent stake. shares surged, boosted by the rally in chinese stocks. tencent operates a number of platforms across china. a software startup is the latest ember of the one billion dollars valuation club, doubling its valuation from just a few weeks ago. the company raise $95 million led by venture partners along with new investors like goldman sachs. dr. is a platform for building shipping, and running apps. -- docker. the notebooks of alan turing have just sold at an auction in new york. he wrot

he is jamie dimon. jamie dimon: the making system is much stronger to start with.ry bank is much stronger. we look at it -- what i worry about more is what happens in a stress environment. people pay attention to what's going on in the markets. there has to be changes down the road. emily: in his annual letter, he says the bank valuation is hurt by uncertainty about future legal costs. tencent's ma sold his shares. shares of surged 62% over the last year, boosted by the rally in chinese stocks. they operate a number of internet platforms in china, including the we chat messaging service. dr. is the latest member of the $1 billion valuation club doc ker raised $95 million in a round led by insight venture partners. it's a platform for building, shipping and running apps. the notebook -- alan turing has just sold for over $1 million. he wrote from 1942-1944 while leading the team that cracked the nazi's enigma code. a major shift in the way americans are eating. sales at restaurants and bars overtook sales at grocery stores in march. that's according to data from the

any dimon worried about a shortage in u.s. treasuries and is a new deal within reach for greece this month question mark "street smart" starts now. here are the top stories we are watching ahead of the closing bell -- terrell electric is nearing an agreement to selling real estate portfolio worth as much as $30 billion to blackstone and wells fargo according to a person with knowledge of the matter. an agreement could be reached as soon as tomorrow. the firm says credit siu's may shut down the government that and for next date -- foreign-exchange business and put the securitization up for sale to an american competitor. deutsche bank says credit suites may scale back their fixed income business in emerging markets. john paulson has merger strategy gains 10% this year thanks to consolidation among drugmakers. bloomberg has learned the firm posting again last month using leverage to -- is using leverage to amplify returns. and has declined from a peak of $38 million in 2011. we have less than an hour to go before the close of tr

number four, jp morgan ceo jimmy dimon is not crazy about u.s. treasury.cautioning shareholders. he said in a letter that laster's volatility was a warning shot to investors in the next financial crisis could be made worse by a shortage of the security. he pointed to a big gyration on october 14. interesting. you don't usually hear the ceo of a big bank giving this kind of investment advice. joe: it was an equitable morning -- an incredible warning and a wake-up call. to see that move in such a short time is an indication something might be structurally wrong with the market. leslie: like every financial crisis in history, he blames this on regulation and the consequences such as the vocal role which has restricted the amount of treasuries in circulation. that makes volatility much more likely to occur. my question is once every 3 billion years, how did he get that number? matt: he is a smart guy. number three, chinese stocks soared yesterday. hong kong's index and start to a seven-year high -- and at stocks hit a seven-year high. the have been some bears

jamie dimon would get rid of the mortgage business if he could. but he can't.rsal banking. >> he'd rather have 20 multiple than lower multiple but yeah that's not easy to achieve. >> ge aviation based in cincinnati ohio jeff immelt hometown guy. >> registered in dublin my mistake. >> big employer in cincinnati. >>> next on "squawk on the street," the apple watch in stores around the globe. but only available for preorders. you want you, you better get it fast. supplies low in the u.s. and china. the $10,000 apple watch edition already out of stock there. we'll take you live to apple's flagship store in new york when "squawk on the street" comes right back. it gets talked about... ♪ ♪ ♪ so you can live the way you live, and enjoy all the rewards. chase sapphire preferred. so you can. i take prilosec otc each morning for my frequent heartburn. because it gives me... zero heartburn! prilosec otc. the number 1 doctor-recommended frequent heartburn medicine for 9 straight years. one pill each morning. 24 hours. zero heartburn. ♪ ♪ where do you go i want to know♪ ♪ >

meanwhile, jamie dimon still looking at 15%.om: let's look at the charts of this train wreck, and i mean that with with with collegiality. there's a move. there's no other bank with this track record. that's all there is to it. i mean there's no other way to put it. this has been a massive fail. you really wonder about the two-tier management structure. i'm sure we'll ask jain about that. but i also wonder about the u.s. platform. coming out of alex brown a million years ago, and you wonder as they talk about 200 branches leaving countries, what they're going to do within the united states as well. olivia: clearly it's a step away, and they are planning to take post bank public and spin that off. i wonder why now. because actually, if you look at the result they just posted out, near record revenue. tom: what i would go to is even with these announcements today, i'm getting muted response. i mean, just there's no other way to put it. olivia: there you have it. don't forget, you can catch deutsche bank's c.e.o. right here on "sur

manus: do you share jamie dimon's concern about the volatility in the market? that something you'd consider? dugan: i think a lot of the changes we have undertaken to make the regulated segment of the industry safer have wrought on changes to market structure. i think we have seen the impacts of that. i think some of those concerns are legitimate. manus: there is no doubt about it. dougan comes from the bond market. he and jamie dimon probably thinking the same way about risk. francine: thanks so much. we are back with the standard chartered global chief economist. one of the big unknowns. it is not true. it is not an unknown. it is when the fed will raise interest rates. how much of it is priced in? >> it happens across the board. we know about things and then we are shocked when they do happen. i think the fed is communicating very clearly. it is preparing the market for a hike. we see the first hike in september this year. but i think the most important thing will not be the timing. it will be where do they take rates? how fast todo they hike? in the current

what do you think of jamie dimon's worries? >> it's an awfully long time prior to the great recession that we had a genuine financial crisis. i can't remember a genuine financial crisis in the post war period. there were many genuine financial crises in the hundred years before. that he's the great expert. he's the head of a very, very, very large bank. the one everyone respects. i don't see where the crisis is coming from. if you see what he said to the stockholders, there's likely to be one and likely to be a giant earthquake that levels los angeles, too. so there's -- i don't think there's any cause for worry about it whatsoever. david: you're making me feel a lot better. here is the gist of what he was saying, he said basically there are so many rules and regulation right now, we can't sort out all that is dodd-frank the financial regs, and whenever you have more regulation it slows up whatever process the regulations are applied to. so if we do, when we do eventually get into a crisis, it's going to slow up our ability to

man in power at the top of these banks for the most part, are still in head of these banks, jamie dimon and they continue to be influential from that risk standpoint. they have aggregated more deposits they have therefore put other banks out of business at the smaller local level. they care more about what's going on in the foundation of economy, with individual banks and so forth.part of that inequality is because of the power inequality. it has only gotten worse the overall power of the banks has increased. >> you write in your book about october 1907, october 1929, october 2008, all instances in which the president of the united states goes to banks because the economy or something, the market, is going wrong and asking them to do something. >> right. >> and you're saying that the similarities remain, that the president in the worst of times does have to talk to the -- you know consult with the nation's bankers and often equities tract concessions from them. >> not only are they having the midnight meetings, but they're the ones that the treasury secretary need to be sustained first

dimon acknowledges the stock price hasn't performed as well as i should.he company has hired about 8,000 people to improve legal compliance. it's inevitable another crisis will hit the financial markets and he cites several possible factors such as geo political issue and rapid rate hikes by the fed. he warns the ability to act as shock absorbers is headered by new capital and liquidity roles. he says jp morgan would weather far better than the fed thinks. being more aggressive in cutting expenses and reducing trading risk. it totalled $20 million. the bank says it's compensation committee felt the pay was deserved as market share and the company met or exceeded it's targets. seema back to you. >> landon thank you so much. >> before we go to break, these are the headlines. the iran president says a final nuclear deal will only be signed if sanctions are lifted immediately. jp morgan's ceo goes on the defensive insisting the bank is not too complicated and zynga calls up their founder to retake the ceo job but analysts cast doubt on a come back. with. >>> w

. >>> jpmorgan's jamie dimon defending the bank's size saying it quote, not a conglomerate. risky because of its size. citing the regulatory and legal costs holding down the majority of the shares. also continues to blame the acquisitions of bear sterns on so much of their troubles. >>> we're getting same store sales for the big retailers throughout the day today. l brands just reporting rising 9%. that was better than the 6% increase that was expected. retails have fallen for the past three months and the data this year has been mixed. but stocks of companies like macy's and target they are trading near all-time highs. plus the cnbc all america survey says our view on the economy is at an eight year high. mixed messages though. joining us now is our consumer and retail panel. jan kniffen and matthew boss. we should probably also talk at some point about the apple watch which from a retail perspective i think is what everybody is looking at. >> everybody is worried about pipt it. everybody's looking at it. i'm wearing a fitbit. i'm not getting an apple watch. but i'm sure ma

morgan chase ceo jamie dimon said last october possible till it he was an event that was not supposedo happen. fluctuation of treasury yields and almost .4% was unprecedented. bill ackman's maleate pharmaceuticals have agreed to and their long-standing legal battle -- [indiscernible] over insider trading. just after an unsuccessful bill last year. they have since been purchased by activists. sir richard branson, one of the wealthiest entrepreneurs in the world is also a high school dropout. like mark zuckerberg, bill gates, steve jobs, they'll quit college before graduating. i talked to branson last night. we had a long talk. it comes with the challenges of educating entrepreneurs as well as the future of virgin galactic. >> it is possible that school is not necessary. i left school at 15. i learned the art of entrepreneurs himism by getting out there and doing it. i educated myself in the real world. and i have seen my life as one long education that i never had. that is for entrepreneurs. other professions, schooling can be quite useful and universities can be quite useful. but for

jamie dimon said that last years's volatility is a warning shot to investors. the chief executive of j.p. morgan chase said that the next financial crisis could be exacerbated by the shortage of the security. south korea central bank held its key interest rate at an all-time low of 1.75%. they are likely to cut rates three times as information rose -- as inflation rose. you can find more on that story at bloomberg.com. caroline: you can join in the conversation with us on twitter. let us know -- do you like avocados? mark: coming up, yesterday's fed minutes showed officials divided union over a rate hike, but there was a debate about -- we will take a close look at the timeline for a rate rise, right after the break. ♪ mark: welcome back. that minutes show division in the ranks over a rate rise. let's break it down. there is a count that wants to go in june and another that wants to go later. there is a third that wants to go in 2016. which camp willare u.n. and which will prevail? -- are you in and which will prevail? >> let's look at what is going on -- we ha

stephanie: jamie dimon was 100% held accountable by the board, by the media, by u.s. regulators.is mean for his lieutenants? i have not heard any of their names mentioned. edward: antigen is running this during the time that some of this is going on. he has had support from his lord -- from his board. he has had support from the local area. the bank came out and manipulated -- admitted to manipulate libor. we have not seen a political push to remove him. also he has the second part of this that is going on at the same time. they are doing a big overhaul of their strategy at deutsche bank to be announced in the next few days. what are they going to do as part of that? erik: i have had to read through some of what the financial conduct authority documented and i come away with the impression that what they found a deutsche bank was more pervasive, more widespread than what they found that ubs and barclays. what does that step -- what does that say? doesn't that tell us something about the culture of the bank? edward: that is exactly a question for jane and the board to answer. they

morgan chase ceo jamie dimon says last october's volatility of the u.s.reasury market was not supposed to happen except for every 3 billion years. he says the fluctuation of treasury yields by almost .4% was unprecedented and would've had serious consequences in a stressed environment. bill ackman's pershing square allegan, and valiant pharmaceuticals have agreed to end their long-standing battle over a failed agreement. valiant accused allergan of making false statements. allergan has since been purchased by activists. sir richard branson, one of the wealthiest entrepreneurs in the world, also a high school dropout. he is not alone. other successful entrepreneurs include larry ellison, bill gates, steve jobs. i caught up with branson last night in arizona. we had a long talk and talked about the challenges of educating entrepreneurs as well as the future of virgin galactic. richard: it is possible school is not necessary. i left school at 15 and i learned the art of entrepreneurialism by getting out there and doing it. i also educated myself in the real

every wall street executive i talked to from jamie dimon down to any trader -- the question is, i can'tive you the magic bullet. >> when and where, we don't know. >> i don't think it will happen soon. if you're not in the market now -- >> you're missing out. but when the explosion comes, there you go. >> every time they suggest they're raising rates, the market tanks. >> the fallout from the "rolling stone." rape on campus. the university of virginia fraternity phi kappa psi will pursue legal action against "rolling stone." "rolling stone" replaced it with a critique which found the failure -- editing and fact checking, absolutely everyone is to blame. >> oh, my goodness. and no one is being held accountable here. "rolling stone" is saying that the person who wrote the article she'll be able to write for them in the future. this is nothing new with the mainstream media. there was no gang rape here. but that doesn't matter. just like the duke lacrosse. doesn't matter. advancing an agenda. didn't happen. it doesn't matter. they're advancing an agenda. >> i've worked at newspapers. i worke

in the repo market because there is beginning to be a shortage of treasury and this is what jamie dimonas kind of alluding to. and rates were dramatically lower. >> i do not think it would be the end of the world at all and it may even be a healthy thing if one of these industrial countries defaults. the problem with the debt market is that investors are not taking into account fully the kind of financial shape these countries are in. >> but by your record this would go away and default. and you know this. >> what would be the repercussion about that. to force these governments to do what we would talk about, forcing them to cut their spending. >> if greece does default the other countries started to fall, like steve is saying that these countries will have to pull back on a sturdy measures, they will have the top spending and that's going to add to a slowdown in the economy is really going to get the money from the taxes. >> or government spending is a negative for the economy. if they start going down the spending indicated the tax revenue to pay back this debt that has been piling up

although jamie dimon said his bank was under assault. very good there. >>> 13 minutes after the hour. breaking overnight, explosive allegations of the deputy who shot and killed an unarmed man on camera. the tulsa world is reporting that robert bates did not earn his job on the force. sources tell the paper that supervisors in the sheriff's office were ordered to falsify bates training records giving him the certification he never earned. cnn is not able to verify the claims. the reporters who broke the story will be on "new day" at 6:00 a.m. this is a big development in that case. this auxiliary deputy. was he trained the way he should have been. >>> 14 minutes past the hour. hillary clinton up close and personal in iowa revealing issues on controversy issues as potential rival chris christie is speaking out. the latest next. if your purse is starting to look more like a tissue box... you may be muddling through allergies. try zyrtec® for powerful allergy relief. and zyrtec® is different than claritin®. because it starts working faster

any dimon worried about a shortage in u.s.is a new deal within reach for greece this month question mark "street smart" starts now. here are the top stories we are watching ahead of the closing bell -- terrell electri

who did they help, both democrats and republicans, led by republican jamie dimon and the banks to get an exemption they've been seeking from dodd-frank law. neil: you're not saying money stops having a role in politics. we might scrutinize it they have to be careful but there's still going to be a lot of it a lot of money right? >> there's going to be a lot of money. the fact is since watergate, we have lowered the bar immensely, and everything goes in washington and i'll give you the best example of it in my opinion. take these lobbying companies and these -- that go on in washington, take for instance the one that existed a few years ago which was, you know, which had jack quinn and ed gillespie a republican, jack quinn counsel to clinton and they've been doing business they're not together because of their ideological or political beliefs. they're together because the corruption is a two-way street. and somebody's going to notice neil. nobody has made that an issue and when somebody does all hell's going to break loose on both parties. >> you folks at home, listen to, this a lot of

. >>> jamie dimon has his annual letter to shareholders. defending the size of the bank.espite the fact that he acknowledges here that the stock performance has not been particularly good over the last five years. he goes on to talk about limiting those legal costs over time. but he defends the size of the bank and the breadth of product offerings saying larger does not necessarily mean more risky. does not necessarily mean more complex. and that it is not a conglomerate. but the mix of businesses works for client. so defending the size even though it is attracting this legal and regulatory scrutiny he says has been weighing down the stock price the past few years. >> john, thanks for that. pete, what's your favorite bank right now? >> goldman sachs. >> giddyap. >> it keeps testing 192 -- >> are you mocking me? >> no. >> i do like the investment banks. asset managers, we all like them it seems like across the desk. everybody has regionals. i think goldman sachs is still the best. >> if we're all waiting for a steepening of the yield, we will get an inverted yield curve. g

. >>> plus jp morgan ceo, jamie dimon worrying about a new crisis. is pimco nervous? i'm paid to be a blimp pilot. what it takes to be a blimp pilot coming up on "power lunch." >>> and now your trading nation's stats of the day and a word from our sponsor. >> it's difficult to hedge ens unknown unknown or black swan events because by the nature they are impossible to predict. instead, consider focusing on the known-unknowns, like election results, economic reports, and earnings reports. 550 [ male announcer ] your love for trading never stops tdd# 1-800-345-2550 even on the go. tdd# 1-800-345-2550 open a schwab account and you could earn tdd# 1-800-345-2550 300 commission-free online trades. tdd# 1-800-345-2550 so when a market move affects one of your positions, tdd# 1-800-345-2550 schwab can help you decide what to do. tdd# 1-800-345-2550 with tools like free live-streaming cnbc tv tdd# 1-800-345-2550 that give you the latest financial news and trends. tdd# 1-800-345-2550 and bubble charts and price charts that let you see exactly tdd# 1-800-345-2550 how market acti

. >> do we stick with jamie dimon. >> i'm asking a question. >> some bank. >> not necessarily. >> i thinkre is always opportunities in these banks. talk about the trading mix. they're absolutely killing it. they continue to have such a great mix. that's why that mega bank still works. i think it can go higher. >> time for pops and drops. big movers of the day. up 5%. tim? >> at a time when the commodities are falling we are seeing businesses outside and doing a couple things, including partnering with accenture. >> any kind of pop you see in this stock. uts going to be weak and it's going to be weak on oil and weak on capx and still reduction cuts coming down the pak. i would stay clear at chesapeake. >> kind of a strange day here. one of their executives accidentally e-mailed sales data to an analyst on the street. stock that was kind of all over the place here, but what's interesting is to close lower down 3% and the sales data was pretty good. for me, that's a warning sign that people are getting out here and i'd be taking profits. >> gaining some market share and i think this exposure

it's not me saying that that's jamie dimon, arguably the most respected banker in the world.ody, i'm david asman in for neil cavuto. glad you could join us. the jpmorgan chase ceo saying the crisis is going to rattle markets and tough regulations are going to make it worse. we're hearing half of americans are staying

. >>> and will jamie dimon disappoint investors tomorrow morning? we've got someone who says financials actually won't do well counter to popular belief during this earnings season. well counter to popular belief by the time police arrive on a crime scene, they could have little to go on. a vague description. a single piece of evidence. a partial plate number. with an app from ibm, officers can now access over a billion police documents to find hidden connections, and identify potential suspects. ibm analytics helps one hundred thousand officers work smarter every day. it's more than a nit's reliable uptime. and multi-layered security. it's how you stay connected to each other and to your customers. with centurylink you get advanced technology solutions, including an industry leading broadband network, and cloud and hosting services - all with dedicated, responsive support. with centurylink as your trusted technology partner, you're free to focus on growing your business. centurylink. your link to what's next. >>> welcome back to "fast money." we ha

jamie dimon said it's get safer. the company did break an 18-quarter streak, wells fargo.ck, another day, another company with valuation north of a billion. dock sert latest unicorn. they'll join us live. ibm's watson making a big jump into health care. counting on apple for help. we'll tell you what it means for the company. >>> and don't count yahoo out, the headline of a new fast company interview with marissa meyer. the man who wrote it tells us what the future holds. ♪ if you're looking for a car that drives you... ...and takes the wheel right from your very hands... ...this isn't that car. the first and only car with direct adaptive steering. ♪ the 328 horsepower q50, from infiniti. >>> it would be an understatement to say start-up docker is just hot. the developer of software that makes it easier to run programs on multiple computers is now on fire. it can count itself as a member of the unicorn club. up from $400 million valuation just this past fall. the company announcing $95 million in new funding this morning. led by insight venture partners. join us from san f

jamie dimon would divest of hundred billion dollars of deposits by charging for them.them. he was being paid to have them. david: we're looking at this chart. you can see inflation is the blue line there. the federal funds target rate is blue line. inflation is a yellow line. whenever inflation is above an interest rate, that is sign of a warning, something is wrong with the economy. we've been in that warning period for the past three years. can we afford it anymore? >> no. there really needs to be adjustment in rates that allows for the normal course of lending and borrowing. people have to be paid for their deposits. and people have to earn a reasonable amount. david: sometimes helps to get back to basics. what happened with the old s&l model, i deposit money to the bank. they use some of that cash to lend out to people, profit would come back to me in terms of interest. with zero interest the whole banking model is falling apart. >> it is way too tight right now. david: how does that affect you? >> as all of us do the same thing, it makes us all less profitable tha

jamie dimon to call that a warning shot. -- called that a warning shot. quite incredible. it jumped 35%, the most since december 1980. what is fascinating is where it stands, yesterday it fell to 74.9. the green circle there of 98.47, the move index has sunk by 25%. heat from asset management at merit securities says the. of calm was caused by slow inflation and a fed that said it will not raise interest rates this month. he warns that when inflation comes, it will be problematic. he says we have not seen the fire yet but the market is about to be burned. he is avoiding treasuries. the yield on the benchmark 10 year ended at 2.17% last year it is now 1.88%. that is why four basis points above the 1.64% low for 2015. keep an eye on this chart. where is it? caroline: for roche -- the u.k. has pledged tax cuts and more spending on health care for police. president obama met with castro and marks a significant shift in restoring relationships between the two countries. sri lanka's central bank unexpected we cut its key interest rate. it is the 20th central ba

and deleveraging the investment bank, getting out of postbank, and more importantly, just as jamie dimon talking about in his letter recently reinvesting in wealth management and global money transmission, so i do not want to say me too, because it is a automatic plan, but it is not going to knock the cover off the ball at this point in time. caroline: with the unwinding postbank, going back to the market 2016, what sort of company will it be? do you want to buy into that? guest: i thought they might pay a to their shareholders as a dividends, because at that point in time, even if it is not earning a fortune, you can at least let your shareholders know if you want to sell it, or do we want to keep our deutsche bank share so i think the valuation, unless they do something extraordinary, is going to be pretty low, and let me put it this way. making money on investment which they boosted in 2010. a true majority shareholder. but it is not work. they feel they can get synergies. mark: which banking model is working right now? who is doing it best, as we look at the share price performance o