As most of you know, I am a Long Term Investor and like boring stocks that slowly makes money but over a long period of time. This is a bank stock that has been growing their Tangible Book value for about 14% a year consistently and will certainly keep doing that for at least another 5 to 10 years. The bank is run by one of the most intelligent and smart CEO, one can get that Warren Buffett will pay him more salary if that CEO joins Berkshire Hathaway.
The name of that bank is JP Morgan Chase and the CEO is Jamie Dimon. Look at their growth in Tangible Book Value per share including the 2007-08 Financial Crisis.
Their Earnings have grown from $4.5 billion to $21.8 billion ( almost 5 times ) in 10 years.
That is one hell of a result to produce for any company let alone banks.
Full Disclosure here: I used to be a JPM share holder and have doubled my money investing in them. But as of this date I do not own any shares in JPM.
Now you may ask, why am I not holding JPM in my portfolio and the reason is this. My full time job is to look for investments and I have all the time to explore difficult investments that I hope get me a better return than 14%. But if you are like most of my friends, who make paltry 2% on their CDs and GICs, there is JPM for you that can easily make 14% or more every year. All you have to do is just buy their shares and never sell it.