Jamie Dimon Delivers Annual World Review
Jamie Dimon and the modest bank he runs have a new corporate purpose.
JPMorgan will "Make dreams possible for everyone, everywhere, every day."
That's according to Dimon's latest annual letter, published Tuesday. The bank's vision is the same. JPMorgan wants to be "the most respected financial services firm in the world." The corporate purpose statement, Dimon explained, is an effort to "knit together" the bank's values and the way it operates on a daily basis.
So, for everyone who's ever wal
The five mindsets must be Gen-Z speak for core values. I see we’ve moved the goal posts so far on these things they are essentially one step away from being outright emojis.
Great intro.
I am as deluded and self congratulatory as the next person, but I do think there are smart traders out there who have as good a feel for reality as anyone alive. Their input is not sought, and it is not welcomed. Frequently, the secret grownups in charge are MIA. Imagine getting some interaction between the regulators and people who know what the fuck they’re talking about? They need not be enemies….I had a prop book everywhere I worked- and I did everything I could to make the risk guys a little smarter, which always terrified and pissed off my immediate superiors. But a dumb/ ignorant risk guy is a way bigger pain in the ass than a well informed one….
I don’t have strong feelings about Dimon either way, but making dreams possible every day everywhere for everyone sounds like the kind of hollow promise you’d expect from the Goop Kiosk at Disney World. Besides, making dreams acessible and ubiquitous to all will eventually depreciate them to the status of a new pair of socks or cup of coffee in the morning. Dreams, like interest rate risk, are best left mostly unrealized.
Jaime’s final bullet point head and shoulders most salient imho…
I thought so too. But then, I decided five or six years ago that we were in for a cycle of inflation approximately as long as the previous disinflation and began investing accordingly. I believe H has expressed the opinion that the Fed can’t really stop inflation (except perhaps episodically) and I agree with that. I think major cycles occur, and that’s that. Best you can do is adjust accordingly.