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One-eyed man

13 April 2012 By Antony Currie, Agnes T. Crane

The top two U.S. banks performed solidly enough in Q1. But both posted ho-hum 12 pct returns on equity flattered by government programs and extra risks. Wells, however, has better core growth and relies less on trading. That makes it deserving of a higher valuation than JPMorgan.

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