Jamie Dimon's Annual Letter

| April 07, 2018
Share |

Along with Warren Buffett and the investment managers we utilize for clients, Jamie Dimon’s annual letter to JP Morgan shareholders is a must read for me.

He is an excellent writer and opines on broad topics from his perch atop of one of the the largest banks in the world

Here are a few highlights:

  • On recent market volatility: “The biggest negative effect of volatile markets is that it can create market panic, which could start to slow the growth of the real economy.”
  • On the recent tax overhaul: “Our previous tax code was increasingly uncompetitive, overly complex, and loaded with special interest provisions that created winners and losers. The good news is that the recent changes in the U.S. tax system have many of the key ingredients to fuel economic expansion.”
  • On trade relations: Although he agrees with Trump’s stance on China, Dimon said, “Retreating from the world is not the solution, nor is burning down the current system and starting anew.”
  • On the $9 trillion in ETFs: “It is reasonable to worry about what happens if these funds went into large liquidation.”
  • On immigration: “We need to resolve immigration—it is tearing apart our body politic and damaging our economy. Immigration reform is important both morally and economically. Immigration has been a critical part of America’s economic and cultural vitality.”

This version is a 46 page behoth, so hunker down as the snow falls on April 7th!

 

Stay Tuned, Disciplined & Patient! {TJM}

The Investor & Character Equation (ICE) | S + R = O

Share |