I thought with new administration, US banks would continue surging.. Any reason why jp morgan is not moving higher and would it still be a good long term buy? Is well still a good stock to jump into right now.. lastly i wanted to ask about TOPT etf IShares top 20 us stocks and was not able to find it on your system.. Any comments please.. much appreciated.
JPM and US banks got a nice pop post election. Now that the dust has settled, there has not been too much to really send the banks significantly higher. We think it is still a strong long-term buy.
WELL has ran-up a bit, but it is good to see the stock performing nicely. We are OK buying with valuation at 24x forward earnings.
TOPT is very new, coming to market only at the end of November. It is relatively small at $88M in net assets and the fee is 0.20%. We are fine with it for concentrated exposure to the largest companies in the market. Given the recent leadership of top companies in the S&P500 we think it could perform well in the future.
Authors of this answer, directors, partners and/or officers of 5i Research and/or affiliated companies have a financial or other interest in JPM.