Jammu & Kashmir Bank (JKBK) hosted an investor conference call to spell out its strategy (already communicated through a press release) after Mr. Parvez Ahmad (executive president previously) was elevated as the bank's chairman and CEO for three years. While we like the new CEO's strategy of acknowledging and recognizing pain upfront, the process is likely to have a significant impact on earnings. Also, the situation in the Kashmir Valley remains tense, which could weigh on near-term stock performance. We...