JPM: REMOVING FROM INVESTING IDEAS

02/06/14 03:39PM EST

Hedgeye Financials Sector Head Josh Steiner is pulling JPM from Investing Ideas. For now.

JPM: REMOVING FROM INVESTING IDEAS - jpm99

We still like this name from an intermediate/longer term standpoint for the same reasons we cited when it was added to Investing Ideas. But in the short-term, the growing risks abroad augur poorly for a globally-interconnected bank like JPMorgan.

Moreover, the recent trend of softening economic data in the US is also unsupportive.

JPM is a name that we can revisit on the long side when the Emerging Market risk profile is in retreat, rather than rising, and when we have better visibility into whether the recent US data is hitting a speed bump or something larger.

The S&P 500 is down approximately -3% since JPM was added to Investing Ideas. JPM is essentially flat. 

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