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How JPMorgan avoided the paper-loss deals of 2022
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Sometimes in investment banking, it is the deals you don’t do.
JPMorgan has avoided most of 2022’s so-called hung deals that have cost competitors billions of dollars in paper losses. Whether by luck or by design, the biggest US bank didn’t make loans backing takeovers of companies such as Twitter, Citrix Systems and Nielsen, which fell in value as markets turned choppy.
JPMorgan’s...
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