Jim Cramer says his charitable trust added JPMorgan Chase (JPM) ahead of Friday's earnings report because the firm "is widely considered to be the world's best bank," and should enjoy "superior earnings growth" going forward.
"What excites us with JP Morgan, led by the able CEO Jamie Dimon ... is its earnings power in a rising-rate environment because of its massive deposit base and its ability to profit from the needs of companies to raise capital globally, not just in the United States," Cramer said in an exclusive conference call with members of his Actions Alerts PLUS club for investors. "We expect JP Morgan will have superior earnings growth -- especially during a period of global expansion -- and we know it's widely considered to be the world's best bank."
Cramer added that even if JPM "hits an air pocket" with Friday's earnings, "we're prepared for that, [because] we need to build a position up."
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