“You Wait for the Reaction to Jamie’s Cautious Commentary to Give You a Better Entry Point”

JPMorgan Chase & Co. (NYSE:JPM) is one of the stocks Jim Cramer talked about. While discussing the company, Cramer noted that the banks are “chronically undervalued.” He stated:

“At the same time, the banks are starting to bother me. Now look, don’t get me wrong, you know this group is chronically undervalued. I have praised it many times to you. These are tremendous franchises, but we’re headed into earnings season. Do you know that in six days, JPMorgan reports? I think this, the biggest bank, is cheap. Stock’s way too cheap actually, 16 times earnings. So why not buy it now? I am worried short-term because even though CEO Jamie Dimon’s a fantastic banker, he’s also a really cautious person. He’s not going to get on the conference call and crow that his stock’s undervalued. He’s far more likely to talk about the potential landmines out there.