Despite what Cramer called “a monster beat” on Wednesday, bearish investors are trying to put a negative spin on JPMorgan Chase’s earnings report. The bears have pointed specifically to loan and credit-card losses, though the Mad Money host shrugged off that reasoning. His outlook for the bank is much more positive.
“JPMorgan has this market to itself right now,” Cramer said, pointing to the lack of competition as a result of the Bear Stearns and Lehman Brothers collapses, “along with Goldman Sachs .”
Cramer also said that JPMorgan’s dividend, which was cut in February, “will be coming next year.”
Cramer's charitable trust owns Goldman Sachs and JPMorgan Chase.
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