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Let's keep an eye on some of the bank stocks here. JP Morgan leading the route as the biggest bank in the US tempers its revenue optimism and saying the forecast for net interest income aren't realistic. That was the president making those comments during a conference yesterday. We're looking at a further decline of just about two tenths of a percent. But yesterday's drop, shares following the most that we saw in just about four years following those comments from their president, Dan Pinto. We also went on to say right now the current net interest income estimate of 89.5 billion is quote unquote not very reasonable. The figure quote unquote will be lower, he said. And remember that Pinto wasn't the only one that was raising some red flags or ringing some alarm bells yesterday and over the last couple of days. On Monday, we heard from Goldman Sachs CEO, David Solomon. He made the admission or was basically warning that trading revenue at his firm was on track to drop 10% in the third quarter. We also heard from Ally Financial yesterday saying that auto delinquencies and net charge offs were up more than expected. So again, some of that optimism that maybe we have seen priced into some of these stocks, some of these executives warning that, hey, maybe it isn't as rosy as what has been priced in up until this point.

Yeah, it seems like for Goldman it was the unwinding of their consumer business as was part of that $400 million hit that they were disclosing. And then additionally here thinking back to JP Morgan, and I think you laid it out quite well on what they're expecting. One thing that we're also expecting is to hear a little bit more about who the next leader of this company is going to be. And you mentioned Daniel Pinto. Don't be surprised if you continue to hear that name over the coming quarters here as Jamie Diamond was speaking as well on that, um, just talking about uh, Daniel Pinto and the succession plans here. Here's what Jamie Diamond said yesterday. We all want to get that exactly right as talking about the extremely qualified people. He said this at an event in New York. Um, and most notably here, he said that Chase President Daniel Pinto could run the bank tomorrow. And so with that in mind, you've got a host of names that are very close to Jamie Diamond within the organization that would all be within the realm of possibility of taking over the top job. Uh, and we'll see exactly who ultimately gets the nod. But that's a that's a high vote of confidence coming from Diamond right now in Pinto.

Yeah, it certainly is. And there's a number of names that JP Morgan is rumored to be considering. And also remember that the timeline of this is really what is in question because Diamond has signaled that it's no longer something they're talking about in five years, but it could be something in two, two and a half years. So we can to focus on that succession plan given the fact that he's been at the helm of the bank since 2006. Certainly a massive focus here for investors and obviously those inside the bank as well.

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