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JPMorgan's Permabull Tom Lee Has Left The Firm

Tyler Durden's picture




 

Perhaps it was his comments today that "a construction boom is coming... tune out the noise and enjoy the bull market" due to lower oil costs and improving weather; but it appears JPMorgan and the permabull are about to part company after 15 years:

  • *JPMORGAN U.S. CHIEF EQUITY STRATEGIST THOMAS LEE DEPARTS FIRM
  • *JPMORGAN ANNOUNCES LEE'S DEPARTURE IN INTERNAL MEMO

It is unclear if Lee's next career will be as waterboy for Ben Bernanke on his $250,000/speech global speech tour. What is, however, likely is that in his place JPM will simply unleash an algorithm that keeps raising JPM's "official" S&P500 price target to 100 points above wherever the S&P may be at any given moment.

 

His last permabull appearance on CNBC as a JPM Talking Head...Enjoy!

"Tune out the noise and enjoy the bull market"

 

The curve becomes inverted in front of recessions, and markets should have plenty of lead time to prepare, Lee said.

 

Investors shouldn't ignore runaway valuations or bubble-like behavior, but Lee said symptoms of a looming recession remain the "most telling bear sign."

 

"These are things we can't ignore," Lee said. "You don't want to have a market that becomes speculatively frothy. The most important thing for us [are] the signs of a recession. ... Really we should focus on the fact that we're in a bull market."

 

Rumors suggest that he is leaving the firm to run corporate relations for Bill Fleckenstein's new short fund... or not.

 

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Thu, 03/13/2014 - 17:39 | 4545174 NotApplicable
NotApplicable's picture

Oooh, now he can go on full-time at CNBS!

Thu, 03/13/2014 - 17:44 | 4545201 DoChenRollingBearing
DoChenRollingBearing's picture

He may be F.O.S., but he got out practically at the top.  Guess he´s not stupid, maybe a shill, but not stupid.

Thu, 03/13/2014 - 17:51 | 4545242 HyBrasilian
HyBrasilian's picture

I thought you were American/Peruvian...

~~~

Had no idea you were related to Claude Rains

Thu, 03/13/2014 - 18:02 | 4545269 DoChenRollingBearing
DoChenRollingBearing's picture

An American in Peru for a visit with his querida esposa peruana...  Who else is going to keep an eye on our bearing import company here?

I want to visit gold-related businesses here.  Peru is No. 6 in worldwide Au production.  And I want to see some of it.

~~~

¿Claude Rains..., quien es ese?

Thu, 03/13/2014 - 20:09 | 4545791 Looney
Looney's picture

Lee's last investment advice: Putin’s going Pol Pot. Long - Pickaxes. Short – Oil and Food.  :-)

Looney

Thu, 03/13/2014 - 20:12 | 4545805 Looney
Looney's picture

Last investment advice to Lee: Don't let the WINDOW hit you on the way out  ;-)

Looney

Thu, 03/13/2014 - 17:52 | 4545246 wallstreetapost...
wallstreetaposteriori's picture

That has yet to be determined... he could be leaving to start his own hedge fund.....

Thu, 03/13/2014 - 18:01 | 4545276 williambanzai7
williambanzai7's picture

Thu, 03/13/2014 - 20:10 | 4545800 Jack Napier
Jack Napier's picture

TYVM Max Keiser Propaganda Machine™

Thu, 03/13/2014 - 18:07 | 4545301 TheBoyPlunger
TheBoyPlunger's picture

He's going to elope to a deserted island with Blythe Masters. On that island they will fornicate and produce a child. The child will be born with the mark of 666 on its forehead. Its face will be that of Abby Joseph Cohen's and its body will resemble a goat. All is lost. All is lost.

Thu, 03/13/2014 - 23:32 | 4546492 Downtoolong
Downtoolong's picture

Has-been's are accumulating all around us. I say it's a good sign, unless they decide to do a spinoff of Dancing With The Stars called Dancing With The Banksters. 

Thu, 03/13/2014 - 17:41 | 4545185 skwid vacuous
skwid vacuous's picture

smug piece of shit, i would like to skull fuck him with a screwdriver

Thu, 03/13/2014 - 18:40 | 4545437 Chupacabra-322
Chupacabra-322's picture

Well, with the string of Criminal Bankster deaths as of late. How soon before this guy ends up mysteriously dead somewhere by means of autoerotic asphyxiation?

Thu, 03/13/2014 - 22:05 | 4546196 Crash Overide
Crash Overide's picture

That escalated quickly...

Thu, 03/13/2014 - 17:42 | 4545187 DavrosoftheDaleks
DavrosoftheDaleks's picture

Funny I don't tune in too often, but that's the last thing I saw on CNBC today.  He'll probably join Brian Belski at changing firms every 9 months now.  Fucking circus acts they are.

Thu, 03/13/2014 - 19:03 | 4545193 Cacete de Ouro
Cacete de Ouro's picture

Jamie Dimon: "We're sure sad to see Tom go. But we had a whale of a time coming up with those forecasts."

Thu, 03/13/2014 - 17:43 | 4545197 paint it red ca...
paint it red call it hell's picture

Think maybe the suiciding is starting to worry him?

Thu, 03/13/2014 - 17:44 | 4545206 medium giraffe
medium giraffe's picture

permabull permafrost permabail.

Thu, 03/13/2014 - 17:45 | 4545208 maskone909
maskone909's picture

whenever i see that POS lee i become enraged and savagely beat my dog.  he looks like the type of asshole that would throw his own mom under the bus.  whiney fucking pencil neck motherfucker god damnit

Thu, 03/13/2014 - 17:47 | 4545226 fonzannoon
fonzannoon's picture

That was just the right amount of anger. The screwdriver comment above went a bit overboard. You threaded the needle.

Thu, 03/13/2014 - 17:52 | 4545250 NotApplicable
NotApplicable's picture

Anger????

And here I thought it was a tool fetish.

Thu, 03/13/2014 - 17:53 | 4545251 maskone909
maskone909's picture

many thanks.  after all, we here at fight club are a civilized people.

Thu, 03/13/2014 - 18:10 | 4545290 skwid vacuous
skwid vacuous's picture

well i would rather beat on Tom Lee than my dog (i know that was in jest), but we all have that anger... towards MSM soothsayers ... just hard to watch these asshats every f'k'n day

Thu, 03/13/2014 - 22:09 | 4546207 Crash Overide
Crash Overide's picture

TV off, fixed... go buy some metal and read a book. :)

Thu, 03/13/2014 - 17:48 | 4545227 papaswamp
papaswamp's picture

Big question is has he exercised all his options and sold all his holdings? Like...'time for me to get the fuck out of here before I get accidentally dead'.

Thu, 03/13/2014 - 17:52 | 4545249 skwid vacuous
skwid vacuous's picture

Karl Quintanilla - hard hitting journalist...

next up, my whoring trip to another Fortune 100 Company, CNBS prime time special

Thu, 03/13/2014 - 17:54 | 4545262 rsnoble
rsnoble's picture

If the US keeps fucking with Russia there's going to be a 'boom' allright and its not going to be construction.

Thu, 03/13/2014 - 17:56 | 4545265 papaswamp
papaswamp's picture

Re-construction jobs you mean...with big yellow suits and dosimeters.

Thu, 03/13/2014 - 18:01 | 4545277 Spungo
Spungo's picture

This guy is clearly retarded. He's saying that companies refusing to invest is a bullish indicator. You know how I'm not investing any money to start a business in North Korea? That's so fucking bullish for North Korea. The construction boom in North Korea is just around the corner.

Thu, 03/13/2014 - 18:02 | 4545282 BanksterSlayer
BanksterSlayer's picture

"A farewell picnic will be hosted by Jamie Dimon on the roof of One Chase Plaza. Stay close to the middle."

Thu, 03/13/2014 - 18:03 | 4545285 Dimons jock
Dimons jock's picture

I would guess he'd have something lined up w Pimco... Doubt it'll be the last we hear from him

Thu, 03/13/2014 - 21:52 | 4545286 contrarian
contrarian's picture

wash, rinse, repeat -- reminds me when the NAR's "chief economist" (chief propagandist) perma-bull, David Lereah, departed shortly before the housing crash

Thu, 03/13/2014 - 18:05 | 4545294 MrTouchdown
MrTouchdown's picture

Lee simply has a healthy fear of tall buildings and nail guns.

Thu, 03/13/2014 - 18:07 | 4545300 whatthecurtains
whatthecurtains's picture

Dimon gave him two options.  He could leave via the front door or leave via the top floor.

Thu, 03/13/2014 - 18:14 | 4545328 Duc888
Duc888's picture

 

 

rsnoble "If the US keeps fucking with Russia there's going to be a 'boom' allright and its not going to be construction."

 

We completely deserve the ocular cranial penetration we are about to get for meddling over there.

 

...and no I do not have a man crush on Pooty-poot.

Thu, 03/13/2014 - 18:17 | 4545343 Duc888
Duc888's picture

 

 

whatthecurtains:  "Dimon gave him two options.  He could leave via the front door or leave via the top floor."

 

...and then there's the more recent option of sampling the hardness of the aluminim skin of a moving train.   Would that be 6061 or a slightly harder alloy?

 

Some days your the fly, some days your the windshield.  One never knows...

Thu, 03/13/2014 - 18:19 | 4545345 skwid vacuous
skwid vacuous's picture

amazing that the carnival barkers that led us to the slaughter TWICE so far are still spewing their bullshit every day... Krudlow, Cramer, Charles Payne, Liz ann Sonders, etc. etc.

Thu, 03/13/2014 - 18:22 | 4545359 zipit
zipit's picture

LIRR

Thu, 03/13/2014 - 18:25 | 4545374 The Most Intere...
The Most Interesting Frog in the World's picture

So funny saw him today on CNBC and was just laughing my ass off....

Thu, 03/13/2014 - 18:36 | 4545411 XRAYD
XRAYD's picture

SO, another job has been destroyed by "technology".

 

Now, if we can replace the Fed with a computer (as Milton Fiedman once suggested). And that was before even the IBM PC with 8K memory and 360K floppy dirves came out.

Thu, 03/13/2014 - 18:39 | 4545427 22winmag
22winmag's picture

Golden parachute or cement shoes?

Thu, 03/13/2014 - 19:41 | 4545705 negative rates
negative rates's picture

Is that a dream? Or did you just jump out of a perfectly good airplane??

Thu, 03/13/2014 - 18:45 | 4545460 Ban KKiller
Ban KKiller's picture

 A well known stooge and liar will get another job in a second. He will say two plus two is what ever you need it to be. 

Dishonesty pays big time on Wall Street. As if no one knows...

Death, by law, to banksters and their stooges. We need banksters to have more access to nail guns and heights. 

Thu, 03/13/2014 - 18:48 | 4545471 Iam Yue2
Iam Yue2's picture

Teaming up with Stolper.

Thu, 03/13/2014 - 19:13 | 4545592 ebworthen
ebworthen's picture

'Ere long they'll have Max Headroom style algo's that say:

"B-b-b-buy th-th-th-the d-d-d-dip!"

Thu, 03/13/2014 - 19:21 | 4545621 starman
starman's picture

Hes right on about construction, we going to triple the buildin' s of  jails in the next decade!

Thu, 03/13/2014 - 19:22 | 4545625 Atomizer
Atomizer's picture

Escapes before Jamie Diamond becomes implicationed. Another whale seeks murky waters. 

Thu, 03/13/2014 - 19:40 | 4545696 STG5IVE
STG5IVE's picture

Next finacial industry suicide

Thu, 03/13/2014 - 19:54 | 4545761 Notsobadwlad
Notsobadwlad's picture

I am getting very tired of hypocrits and liars. They wear on you year after year. And, maybe that is the thing for JP Morgan. They realize that liars and hypocrits wear on people so they need to hire new ones every now and then.

Thu, 03/13/2014 - 22:47 | 4546327 franciscopendergrass
franciscopendergrass's picture

Pent up demand after so many years?  The market must be suffering from a serious case of blue bulls.

Thu, 03/13/2014 - 23:33 | 4546495 Downtoolong
Downtoolong's picture

Has-been's are accumulating in droves. I say it's a good sign, unless they decide to do a spinoff of Dancing With The Stars called Dancing With The Banksters. 

Fri, 03/14/2014 - 00:59 | 4546690 are we there yet
are we there yet's picture

Does Thomas Lee own a nail gunn?

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