Michael Shulman
Michael Shulman is the editor of ChangeWave Shorts, a newsletter advisory service that helps individual investors make money on the short side of the market.
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Portfolio Killers: 8 Zombie Stocks to AvoidMarch 10, 2009 By Michael Shulman, Editor, ChangeWave Shorts |
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Zombie Stock #5: JPMorgan Chase (JPM)
This may be the first place you read about JPMorgan Chase 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
NEXT: Zombie Stock #6 – Wells Fargo
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