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JPMorgan’s “Whale” Problem Lures Hedge-Fund Sharks

JP Morgan Chase’s “London whale” problem attracted some hedge-fund sharks in the second quarter.
New regulatory filings show that several big hedge-fund players loaded up on JPMorgan even as heavy losses on a soured credit derivative bet made by a trader known as the “London whale” sent the bank’s stock reeling.
It seems as though managers such as Jim Chanos, John Paulson and Jamie Dinan saw the stock’s 22 percent drop in the second quarter as a buying opportunity.
Read More: Reuters