Sunday, January 29, 2012


Jamie Dimon, tough, smart, unethical

In no particular order:
1. gave himself a 1500% raise in 2010

2. graduated from the Harvard Business School with an MBA

3. Under his leadership JPM was part of the robosigning scandal where banks foreclosed on homeowners without verifying whether or not the foreclosures were justified.

4. is the CEO of JP Morgan Chase

5. Hank Paulsen, the secretary of the treasury, practically begged Dimon to take Morgan Stanley for absolutely zero cost, more than once during the financial crisis. Dimon turned him down.

6. His company JP Morgan Chase manages $2 trillion in assets, more than twice that of Goldman Sachs 

7. It's well known that he spread negative rumors about Washington Mutual's finances and then went ahead  and bought them at a huge discount.

8. graduated 4rth in his high school class at the elite Browning School in NYC

9. His father and grandfather were also bankers.

10. To his credit, JP Morgan Chase started aggressively scaling back their exposure to mortgages one year before the financial crisis.

And for the record, the update on the portfolio for

Start Date: 12/12/2011
Starting balance: $10k
Current Balance : $11,686
Gain: 17% 

And don't forget to check the Market Prediction Page to see which way the market is going tomorrow. 

No comments:

Post a Comment