JPMorgan Chase (JPM)'s Loss is Boaz Weinstein's Gain

A contributing factor to JPMorgan Chase & Co. (NYSE:JPM) now $3 billion trading loss was Bruno Iksil, aka the "London Whale." He is said to be leaving the bank.

Prior to trading debacle and the name London Whale, he was known as the Caveman for going after trades that his rivals thought were too overly aggressive but very profitable.

In 2011, Iksil, who was based in J.P. Morgan's London Chief Investment Office (CIO), had a $1 billion bet against a collection of junk-bond-rated companies in a derivatives index. According to The Wall Street...