From one piece The Jamie Dimon Interview: How JP Morgan Became an $800 Billion Bank 8 beliefs, in the piece's order there
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Their words
If you have a a sport team with a bunch of real jerks on it, are they going to be a great team? Almost never.
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Their words
we can cut billions of dollars of marketing out tomorrow. We can stop opening branches and save a billion dollars next year. We could do a lot of things. Your margins will go up. Your growth will go down. Your long-term margins will probably get worse.
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Their words
A lot of our middle market clients use investment banking products. A lot of our consumer clients use some effects. So, all of our businesses feed each other. There's no extraneous. We got rid of everything that didn't fit a strategy.
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Their words
So you if you look at the leverage in some of these securitization books and mortgage books if you have 30 times leverage and you're getting 20% of the profits you'll go to 40 times leverage. It's just going to it's literally will add you know 25% to your bonus.
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Their words
You know, in the banking business, the character the clients you have will reflect in your bank. So, the first thing is who you're doing business with, how you're doing business
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korrents.com
Bad loans are bad revenue that will eventually kill you, even though for a while they look like profit.Their words
And then, revenues, you know, if I make bad loans, they are bad revenues. They will kill you, but for a while, they look pretty good.
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Their words
the fortress balance sheet is that you run a company serving clients well, you have good margins, good liquidity, good capital. I'm as conservative in accounting as you can find. I don't up-front profits when I can spread them over time.
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Their words
I've always been very risk-conscious. And risk-conscious does not mean getting rid of risk. It means properly pricing it and understanding the potential outcomes.