December 4, 2018 / 5:40 PM / 15 days ago

JPMorgan CEO Dimon: Buybacks are for times when stock is cheap

NEW YORK, Dec 4 (Reuters) - Jamie Dimon, chief executive of JPMorgan Chase & Co, on Tuesday said he favors using the bank's excess capital to reinvest in its business instead of buying back stock.

"Stock buyback, in my opinion, is a very good thing to do when your stock is cheap," he said at an investor conference.

Dimon also said fourth-quarter trading revenue so far is "roughly equivalent" to last year. (Reporting by David Henry in New York; Editing by Meredith Mazzilli)

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