Wall Street

"It was a bad strategy. It was badly executed."

The words of JPMorgan Chase's CEO, Jamie Dimon, as he admitted late yesterday that the investment bank — or, more precisely, a single "rogue trader" working for the bank, had lost some $2 billion in the last six weeks in risky hedge-fund trades.

The news has sent chills through the markets. Shares of JPMorgan Chase, the largest U.S. bank, lost 7 percent in after-hours trading and British bank Barclays lost 2.9 percent, while more than 2 percent was shaved from Royal Bank of Scotland.

From UW through records reuest

"We've been doing nothing but investing in this town."

On Nov. 2, JP Morgan Chase CEO Jamie Dimon came to Seattle to address business leaders at an event put on by the University of Washington’s business school. The event attracted a great deal of heat from the Occupy Seattle protesters, which we wrote about: “Anatomy of a protest: Occupy Seattle vs. Jamie Dimon of Chase.”

Reporters were not allowed into the event to hear what Dimon had to say, though some were allowed to interview him before hand. KPLU was not among them.

We got a copy of a video of the event through the Freedom of Information Act. Inside, you can watch several snippets of his responses to questions as well as the full video of his speech at the Business Leadership Celebration event.

Should you pull out of the stock market?

Standard & Poor's downgraded its credit outlook for the United States this week; gas prices are rising; Europe is facing serious debt problems and Japan continues to struggle with its nuclear crisis. There's an awful lot to worry about these days.

But financial commentator Greg Heberlein reminds us that Wall Street climbs a wall of worry, and says you should stay in the market and look for buying opportunities.

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All signs point to 2011 being a good year for the stock market. On this week's Money Matters, financial commentator Greg Heberlein tells KPLU's Dave Meyer this is a good time to invest.

echiner1 at flickr.com

Ever wonder why the stock market rises to a certain level and then pulls back?  That’s called a resistance point.  Financial commentator Greg Heberlein explains it to KPLU’s Dave Meyer on this week’s Money Matters.