Best 183 quotes of Jamie Dimon on MyQuotes

Jamie Dimon

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    Jamie Dimon

    A bank is a relationship. I can't desert you and expect to have a strong relationship afterward. If I told someone, "I know you've been buying milk from me and you need milk to survive. But the price is no longer $2 a gallon. It's going to be $40 a gallon. I'm going to bankrupt you." What do you guys think of me? You would hate us.

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    Jamie Dimon

    Abenomics, quantitative easing, fiscal policy - we know all the issues.

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    Jamie Dimon

    A democracy is a compromise by its nature. It's not a dictatorship.

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    Jamie Dimon

    After the tsunami in Japan, we were open for business. In fact, I flew there 10 days after the tsunami to show our support for the Japanese people.

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    Jamie Dimon

    All our clients know that we're there, we're steady, we do a good job, we earn a fair return for ourselves, which I think is critical.

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    Jamie Dimon

    A lot of these things have hurt the average American. When they look at the banks and they say, "Well, the bank's talking its own game," I am telling you, what we've done in mortgage lending, our inability to have proper regulations around mortgages, has hurt average Americans. First-time buyers, immigrant buyers, prior defaults, self-employed, because they can't get a mortgage. Will it make a big difference to JPMorgan Chase? No, but you're hurting my fellow citizens. Let's go at it, and let's fix it.

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    Jamie Dimon

    And if you're going to be a leader, you know what I ask myself? Would I want to work for you in this job? Would I let my children work for you? Would I give you this job if I wasn't there to provide oversight? If you went to run another company, would I, as an investor, invest in that company?

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    Jamie Dimon

    Any good job is a good job. This whole concept of a dead-end job? It's not true. I've heard it my whole life. Jobs lead to dignity. If you're good at the first, then you can get the second. Jobs lead to household formation. Jobs are a better solution for society.

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    Jamie Dimon

    As a matter of fact 25% of our U.S. investment banking business comes out of our commercial bank. So it's a competitive advantage for both the investment bank - which gets a huge volume of business - and the commercial bank because the commercial bank can walk into a company and say, "Oh, if you need X, Y and Z in Japan or China, we can do that for you.

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    Jamie Dimon

    As countries get wealthier - all of them, together - you're going to have financial assets. That is a good thing. You could argue the assets were traded too much, or that they're too highly valued, or too leveraged.

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    Jamie Dimon

    At Travelers, we were much more opportunistic. It was very successful, but it wasn't an integrated financial services company. We had a property casualty company, a life company, a brokerage company. We were a financial conglomerate. It wasn't a unified, coordinated strategy of any sort. When it merged with Citi, that became a big issue; Citi, at that time, wasn't yet a fully integrated, coordinated company.

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    Jamie Dimon

    Banks also have to say no to customers. We can't always give clients what they want; it may not be in the client's best interest.

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    Jamie Dimon

    Banks don't want certain asset classes, and that's created opportunities for private equity, hedge funds, Silicon Valley. In this case I think he was referring to some of the European banks shedding assets, and the big buyers are probably not going to be big American banks. Someone like Blackstone may have a very good chance to buy those assets, leverage them, borrow up a little bit, and do something good there.

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    Jamie Dimon

    Because of that [Brexit], you're going to have slow growth and, unfortunately, while there may not be huge volatility, there will be volatility.

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    Jamie Dimon

    Businesses can be opaque. They are complex. You don't know how aircraft engines work either.

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    Jamie Dimon

    But in general, as countries get wealthier, there's going to be more savings, which means you're going to have intermediation. So part of it is just the huge growth in wealth, and part of it was globalization - these companies, these clients getting much bigger and much more global.

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    Jamie Dimon

    Capping the size of American banks won't eliminate the needs of big businesses; it will force them to turn to foreign banks that won't face the same restrictions.

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    Jamie Dimon

    Companies are returning a lot of money to shareholders through dividends and buybacks. And a lot of people say that's not a good use of capital. I think that's normal reallocation of capital.

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    Jamie Dimon

    Companies that build scale for the benefit of their customers and shareholders more often succeed over time.

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    Jamie Dimon

    Companies that grow for the sake of growth or that expand into areas outside their core business strategy often stumble. On the other hand, companies that build scale for the benefit of their customers and shareholders more often succeed over time.

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    Jamie Dimon

    Dodd-Frank and independent actions of banks go a long way in terms of progress on capital, liquidity, transparency, "living wills" (plans for winding down a bank in the event of a collapse) and resolutions.

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    Jamie Dimon

    Dodd-Frank is 2,000 pages long. It covers thousands of rules, regulations, interpretations and things like that.

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    Jamie Dimon

    Don't do anything stupd. And don't waste money. Let everybody else waste money and do stupid things; then we'll buy them.

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    Jamie Dimon

    Economies of scale are a good thing. If we didn't have them, we'd still be living in tents and eating buffalo.

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    Jamie Dimon

    Europe is the most complicated place, in my opinion.

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    Jamie Dimon

    Finance went from being a small business, effectively, to being a big business. In part, that's the growth of the world's wealth. That's called savings.

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    Jamie Dimon

    From my point of view, the American financial system - including banks and investment banks - is far safer because of capital and liquidity requirements. Despite all the turbulence so far this year, I don't think anyone's questioning our system. And that, obviously, is a good thing.

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    Jamie Dimon

    Good regulation should be conducive to business and to customer protection.

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    Jamie Dimon

    I advise other companies' CEOs, don't fall into the trap where you go, 'Where's the growth? Where's the growth?' Where's the growth?' They feel a tremendous pressure to grow. Well, sometimes you can't grow. Sometimes you don't want to grow. In certain businesses, growth means you either take on bad clients, excess risk, or too much leverage.

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    Jamie Dimon

    I agree with people who say we want more income equality; we want more consumer protection; and we want sounder banks. I agree with all that.

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    Jamie Dimon

    I also believe that most of the emerging economies have a fairly large amount of foreign exchange reserves, relative to 10 years ago.

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    Jamie Dimon

    I also think you have to be very careful. I mean, the heritage of our company is very strong, and building some of these businesses into leading players is extremely tough. You and I can both build a trading business, and it looks like you're doing OK, and it looks like I'm doing OK. But, really, I am, and you aren't. It comes down to the quality of clients, quality of systems, quality of risk controls.

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    Jamie Dimon

    I always tell people, "There's a book on everyone." I get some of that book before I do anything. If I want to deeply understand someone's reputation, I'll talk to their friends, their former bosses, their peers, and I'll learn a lot about them. I want them to be trusted. I want them to be respected. I want them to give a s - -. Then there are the intangibles: physical and emotional stamina, the ability to confront issues. I can ask all I want about those things, but I also have to see a lot of it.

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    Jamie Dimon

    I am still a Democrat. The main reason is because I don't like the Republican stance on some social values. Not that I disagree with all of them. I just don't think they have a right to impose it upon other people. I've been public about that.

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    Jamie Dimon

    I am struck that so many of our leaders in the U.S. forget how strong our country can be.

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    Jamie Dimon

    I believe it's a good thing that people say, "Can we find a way to live together in peace?" And they did, for the most part.

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    Jamie Dimon

    I completely agree with the concept that American citizens shouldn't expect that a failure of a bank would cost them money, or that it would hurt the economy.

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    Jamie Dimon

    I do believe that some of these regulations made the markets more volatile, and it remains to be seen how bad that can be.

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    Jamie Dimon

    I don't like the term "universal bank." The Chinese government legitimately wants to have a very strong economy. When they talk about SOE reform, they know that's part of it.

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    Jamie Dimon

    I don't mind paying higher taxes, because I've done quite well and I'm blessed to live in this country.

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    Jamie Dimon

    I don't think that [normalization] necessarily is going to damage the emerging economies.

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    Jamie Dimon

    I don't think you could have a banker serving in a major role in Washington in the next 10 years. I just don't think it's going to happen - it's just not politically feasible - so I don't spend much time thinking about it. Do I think I could do a good job? Maybe. It's possible.

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    Jamie Dimon

    I don't think you're going to have one bank. Big companies aren't going to give us all their business. So they can pick and choose - by product, by country, whatever. We have major competition across every product in every place we operate.

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    Jamie Dimon

    I do think there will be more Japanese companies expanding out of Japan, and there will be more cross-border flow from Japan.

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    Jamie Dimon

    I do want the tax system to be efficient and be conducive to growth, which it is not.

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    Jamie Dimon

    If business doesn't thrive, it hurts America. We need improved relations, more collaboration, more thought and more consistency as we go about trying to make sure we have the best country in the world. Not scapegoating and finger-pointing.

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    Jamie Dimon

    If I ran the whole place like it was my way or the highway, we would not be as good a company. I'm going to have mistakes - they'll be made on my watch and will embarrass me. But I'll also make sure the company learns from them so it can become a better company.

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    Jamie Dimon

    If it is a small rate raises, [there will be] no impact.

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    Jamie Dimon

    If the economy grows, housing gets better, quicker.

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    Jamie Dimon

    If the government wants to do social policy, it should not be done in a quasi-public company. If you have a mortgage guarantee company which is done by the U.S. government, it should be guaranteed by the originators, i.e., the shareholder.