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JPMorgan vs JPMorgan

12 April 2013 By Antony Currie, Agnes T. Crane

The U.S. bank earned a record $6.5 bln in the first quarter, and almost matched Wells Fargo’s return on equity. And yet JPMorgan is still trading below book value. That lends weight to an argument by its own financial industry analyst that universal banks are “uninvestable.”

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