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$2 billion in loss and now they re mounting. erica himmer reports. reporter: it was a month ago that j.p. morgan revealed its bad derivatives bet. at first, the bank pegged its loss at $2 billion, but now there are estimates as high as $5 billion. that would be roughly a quarter of its earnings last year. j.p. morgan wouldn t comment on the losses. also, there are reports that alarm bells went off about risky trading at the firm s london office as much as two years ago. investors are clearly nervous. j.p. morgan shares have dropped nearly 20% since the losses were revealed, slicing roughly $30 billion in market value. but analyst jim sinegal sees 50% upside for the shares. they only have to make $13 billion a year in order for that stock to be at ten-times earnings right now. i think they are going to make considerably more than that, so the stock does look cheap to us. reporter: but it s clear c.e.o. jamie dimon s stellar reputation has taken a hit as investors worry a
United-statesNew-yorkTennesseeGermanyDutch-bankUnited-kingdom-generalUnited-kingdomIranTexasCubaCapitol-hillDistrict-of-columbia $2 billion in loss and now they re mounting. erica himmer reports. reporter: it was a month ago that j.p. morgan revealed its bad derivatives bet. at first, the bank pegged its loss at $2 billion, but now there are estimates as high as $5 billion. that would be roughly a quarter of its earnings last year. j.p. morgan wouldn t comment on the losses. also, there are reports that alarm bells went off about risky trading at the firm s london office as much as two years ago. investors are clearly nervous. j.p. morgan shares have dropped nearly 20% since the losses were revealed, slicing roughly $30 billion in market value. but analyst jim sinegal sees 50% upside for the shares. they only have to make $13 billion a year in order for that stock to be at ten-times earnings right now. i think they are going to make considerably more than that, so the stock does look cheap to us. reporter: but it s clear c.e.o. jamie dimon s stellar reputation has taken a hit as investors worry a
United-statesNew-yorkTennesseeGermanyDutch-bankUnited-kingdom-generalUnited-kingdomIranTexasCubaCapitol-hillDistrict-of-columbia