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    Bank earnings: JPMorgan and Wells Fargo shares rise after positive earnings results

    Vaseline Posted on

    An analyst asked about plans to use the excess cash the company has on its books, given CEO Dimon’s comments that market levels are “at least slightly inflated,” and Dimon said the excess capital “doesn’t leave a gap burns in my pocket.”

    He emphasized that “cash is a very valuable asset in a turbulent world,” and said the future “could be quite turbulent.”

    And he pointed out that he’s not the only one who thinks this way, as “my friend Warren Buffett” is also stockpiling cash.

    Dimon also said he’s “not that buoyant” about the stock market, and that markets don’t stay high forever.

    As for share buybacks, he believes there will come a time when shares can be bought back ‘cheaper’.

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