110+ Jamie Dimon Quotes On Bitcoin, Employees And Economy
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Top 10 Jamie Dimon Quotes (BEST)
- The government has the right to change laws and rules and regulations.
- You read constantly that banks are lobbying regulators and elected officials as if this is inappropriate. We don't look at it that way.
- My daughter asked me when she came home from school, "What's the financial crisis?" and I said, it's something that happens every five to seven years.
- Businesses can be opaque. They are complex. You don't know how aircraft engines work either.
- We have built a very good company, and we're proud of it. We also recognize that much of it has been built on the shoulders of the thousands of employees and leaders who have worked here before us.
- I call it the pet rock, the Bitcoin. I defend your right yo do Bitcoin, but my personal advice would be don't get involved.
- We were a land of opportunity. You can never have equal outcomes, but you can have equal opportunity.
- Good regulation should be conducive to business and to customer protection.
- I want Japan to think and say that we are better off for JPMorgan having been here through thick and thin.
- I think immigration has been one of the vital things about the growth of America. I'm the product of grandparents who all immigrated from Greece. I hope eventually we have proper immigration.
Jamie Dimon Short Quotes
- We invested in the downturn and we never stopped serving our clients.
- I do want the tax system to be efficient and be conducive to growth, which it is not.
- On Wall Street, there is no "Wall Street"; there are individuals.
- We had a lot of gridlock on a lot of issues. But, the American system is pretty resilient.
- There are parts [in Dodd-Frank] that I don't agree with. But, in total, it is what it is.
- You have your own culture and your own ways of doing things. I hope Japan continues on this path.
- Europe is the most complicated place, in my opinion.
- Prime Minister Modi [Narendra] is strong enough, and he's accomplished much.
- It can take a long time to get the rules in place that are conducive to growing, sometimes.
- I am struck that so many of our leaders in the U.S. forget how strong our country can be.
Jamie Dimon Quotes On Economy
The yen is trading where it's trading because people are guessing about people's future interest rates, dollar and yen and about the future growth potential of the economies. And, if this policy works, then the yen will probably strengthen. — 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. — 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. — Jamie Dimon
More people are working, lending is up and savings are up. These are all positive signs for a strengthening economy. — Jamie Dimon
[That is] hard to predict, [it] could be either September or December  I personally think the sooner the better because that would be a good sign that the Fed believes the economy is significantly stronger. — 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. — Jamie Dimon
I don't think that [normalization] necessarily is going to damage the emerging economies. — 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. — Jamie Dimon
We see very broad-based, moderate, growth. Most of the sectors are quite strong. I don't see any major potholes, and I believe [the economy] is strengthening. — Jamie Dimon
No one can forecast the economy with certainty. — Jamie Dimon
Jamie Dimon Quotes On Success
We, Americans, have the best country on the planet. We have schools, universities, food, water, energy, peaceful neighbors, low corruption, you name it, deepest and widest capital markets. That doesn't mean we shouldn't identify problems. We don't have a divine right to success. — Jamie Dimon
It's an advantage for both parties to have the other. It also creates good stability of earnings. Our business mix means we have a diversified earnings stream, which is one of the things why we got through the tough times so successfully. — Jamie Dimon
JPMorgan Chase are among the most successful global investment banks, most successful global asset managers, and, in the United States, one of the most successful retail and commercial bankers. We do a great job for customers. — Jamie Dimon
I learn from all our major competitors, whether they're in or out of the U.S. Wells Fargo is very actively, very aggressively, and very successfully building its U.S. investment bank. — Jamie Dimon
I have gotten disturbed at... some of the Democrats' anti-business behavior, the sentiment, the attacks on work ethic and successful people. I think it's very counter-productive. — Jamie Dimon
Acting like everyone who's been successful is bad and because you're rich you're bad, I don't understand it. — Jamie Dimon
Jamie Dimon Quotes On Businesses
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. — Jamie Dimon
I hate the word universal, because I don't know exactly what it means. The question is, does it work for the client? Travelers was a diversified, financial conglomerate that did very well. The businesses had nothing to do with each other. — 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. — Jamie Dimon
We got a lot of excellent people and businesses from Bear and WaMu. But Bear definitely was more painful. WaMu got us into Florida, California, and other states, which was a huge benefit - to expand and grow and add middle-market, private banking, investment banking, and other products, too. — 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. — Jamie Dimon
If you were a corporation needing financial services, and I can give you something better, faster, and cheaper across 12 products as opposed to eight, that's business. I'm doing it because I'm serving you; I'm not doing it because I want to be universal. — Jamie Dimon
The question is how do you do it [more consumer protection] so that it actually works that way? And that takes analysis, and sometimes collaboration between government and business, to understand how that works. — Jamie Dimon
We have a lot of people who are Republicans, a lot of people who are Democrats, and it's not just because of business reasons. — Jamie Dimon
I hope the story of 2011 is that America gets its mojo back. You've got to remember that America has the best universities; it's got some of the best businesses. It's got an unbelievable work ethic, rule of law. The story of 2011 will be America blossoming again. — Jamie Dimon
People need to understand: Businesses are going to make mistakes. They shouldn't be shot and hung every time. We should apologize for it. We should make up for it. My shareholders paid for it. No customer was hurt, which is critical to me. But I hurt my shareholders, and I wish I hadn't. — Jamie Dimon
Jamie Dimon Quotes On Business
I am not embarrassed to be a banker. I am not embarrassed to be in business. — Jamie Dimon
All businesses tend to pass costs onto customers. — Jamie Dimon
It is vital for officials and regulators to have input from people within our businesses who understand the intricacies of how financial markets operate and the consequences of certain policy decisions. — Jamie Dimon
We continued to build the business, even in the worst of times. We do business all over America. — 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. — Jamie Dimon
We're diversified, we're stable and consistent. Our businesses benefit from each other. — Jamie Dimon
Our global corporate investment bank competes with Goldman Sachs, Citibank, and a bunch of other banks that are in those businesses. We may have slightly different products or services, but so what? That's always been true in American business. — 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. — Jamie Dimon
If you're making all your money simply betting on interest rates, that's not a business. Flow is a business. On the outside, they look the same for a while. But when you dig into them, no, they weren't exactly the same. — Jamie Dimon
We use technology to make it cheaper, better, and faster for the client. And then if you have the most flow, you can win. Now, having said that, Silicon Valley wants to take on this business. They think they see an opening. — Jamie Dimon
Jamie Dimon Quotes On People
If you went to all those little towns in America, JPMorgan was there in good times and bad times, and, in fact, helped a lot of people through the tough times. And we know that's when they need us the most. — Jamie Dimon
When you leave people behind, and those people who are left behind, it's not their fault, it's the leaders of the institutions. There's always going to be an elite. You can have an elite in a communist society. It is the leaders, something went wrong, and the leaders collectively are responsible. — 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. — 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. — 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. — 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. — Jamie Dimon
India is a huge democracy. Prime Minister [Narendra] Modi has ambitions to try to fix the infrastructure, the rules, taxes, education, and to lift up the Indian people. And we're hopeful that that's going to create positive momentum. — Jamie Dimon
I speak to lots of people around the world, and no one would tell you that 25 basis points will make a difference to them. — Jamie Dimon
It's moderate growth, with some parts of the world better than people think, and better than last year . — Jamie Dimon
I think the free-enterprise system has been great for society. That doesn't mean it's completely perfect. And also, when people say capitalism, I'm not really sure what they mean. — Jamie Dimon
Jamie Dimon Quotes On Scale
The transaction reflects our disciplined strategy of investing capital in core businesses where we can leverage scale and expertise for competitive advantage. In addition to being a great strategic fit, the deal is compelling financially. — Jamie Dimon
Scale can create value for shareholders; for consumers, who are beneficiaries of better products, delivered more quickly and at less cost; for the businesses that are our customers; and for the economy as a whole. — Jamie Dimon
Companies that build scale for the benefit of their customers and shareholders more often succeed over time. — Jamie Dimon
Jamie Dimon Famous Quotes And Sayings
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? — 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. — Jamie Dimon
My father and grandfather were stockbrokers, and they would actually take stock certificates from a vault, give it to a runner, and send it to another vault. Then somebody said, "Let's digitize it and have one vault." Now the DTCC clears and settles almost everything, and the cost of doing a trade is a tenth of what it was before. — Jamie Dimon
When the secretary of treasury, the head of the central bank, the head of the FDIC (Federal Deposit Insurance Corp.), and the head of the New York Fed say, "We want you to do this because we think it's in the best interest of the United States of America," you know, we're like the Japanese. We're a little patriotic that way. We said, "Yes, sir!" — Jamie Dimon
They'll [China] probably be a fully developed nation. The road there just is not going to be that easy. You're going from a macromanaged, top-down economy to a market-managed, micromanaged type of economy, with all the potential corruption issues, SOE [state-owned enterprise] reform, and market reform that come with it. — Jamie Dimon
We're trying to win business by doing a good job for the clients, as opposed to, "We think being big and universal is just a great, wonderful thing." It's not a morality thing. It's a "Does it work for the client?" thing. Everything we do is because a client uses us. Everything we do is because a client chose to use us of his own free volition. — Jamie Dimon
The real story in housing will be a recovery in the economy that will drive a recovery in housing, When people are working, when there are more jobs, more households forming and people go back to buying cars, they're going to want their apartments and homes. And that's when you'll start to see a recovery in home prices. — Jamie Dimon
I wanted to start by saying that the eurozone - there are two reasons they formed the European Union. One is for political peace and rationalization. And I think that's a good thing for a continent that went through hundreds of years of wars. — 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. — Jamie Dimon
Well, if you were the American public, you saw a catastrophe. In general, you would say, "The biggest institutions of America - Washington, broadly, and Wall Street, broadly - they're to blame." And, broadly, they're right. — 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. — Jamie Dimon
The United States has the best, deepest, widest, and most transparent capital markets in the world which give you, the investor, the ability to buy and sell large amounts at very cheap prices. That is a good thing. — Jamie Dimon
Look, every institution will make mistakes. I acknowledge we make mistakes, and they can hurt my reputation and our company's. But you also must be willing to let go a little bit, trust others, and not always be so stringent, provided you have robust controls. — Jamie Dimon
The best thing to do is muddle through and maybe, over time, create a solution of that, if someone really wanted to exit, the legal basis on which you could exit. Because right now there almost doesn't exist one. — 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. — Jamie Dimon
It takes 10 years to get all the permits to build a bridge today. Ten years? What happened to the good old can-do America? Where is "We get it done, we work together"? We've become this bureaucratic, stifling environment. I'm not talking about violating environmental things - I'm talking about building a bridge, getting things going, getting people to work together. — Jamie Dimon
We're going to do the right thing for the company and our customers, all things considered. — Jamie Dimon
If you talk to anyone involved in business - forget banks and big business - talk to small businesses - do it yourself, don't ask me - they'll tell you it's crippling. Small-business formation is the lowest it has ever been in a recovery, and it's really for two reasons. One is regulations and the second is access to capital for people starting new businesses. — Jamie Dimon
I think one could argue that there's more political input into the regulatory side, and on the regulatory side there seem to be fewer people with financial and banking experience - there are more lawyers, academics, economists, maybe politicians now. — Jamie Dimon
I haven't studied it deeply, but the American banks started the crisis with far more capital and what I would call "good liquidity." The riskiest funding is unsecured wholesale funding. It's the most fickle. Not repo, which the government focused on, too. Unsecured. JPMorgan Chase had almost none of that - virtually zero. — Jamie Dimon
Remember that banks aren't markets. The market is amoral. The market doesn't care who you are. You're a trade to the market. The market will sell you if they think you're riskier. Banks didn't do that — Jamie Dimon
The "third arrow" (of structural reform) is critically important. Japan has some of the best companies in the world, and if you look at their technology, their capability, it's extraordinary. — Jamie Dimon
I've always been a ... believer in good regulation. — Jamie Dimon
I think the Republicans have really thoughtful financial policies, and I'm more in the middle on taxation. — Jamie Dimon
The economic union - creating a big common market, like the United States, so that you can compete across borders. There are common rules, regulations, and simplification, and that is still a good reason, too. When they put their monetary union together, that created a rigidity that made it hard for currency fluctuations. They don't really have a solution to that. — Jamie Dimon
We are totally open kimono with regulators. — Jamie Dimon
Part of [Japanese companies] growing and expanding around the world is ... going to help the Japanese keep their lifestyles [despite Japan's] demographics, as a declining population, and [to] make it more conducive to women to go to work, I think, is a plus. — Jamie Dimon
If you look at the banking business over many years, it's always been a huge user of technology. This has been going on my whole life, that people have been adding technology, digitizing services. — Jamie Dimon
Look, in any system, you want highly ethical people who really understand issues to form policies and make tough decisions. You need all the right people in the room. But there's a general view in Washington now by many politicians that if you ever were on this side, you're conflicted for being on that side. — Jamie Dimon
If the numbers are right, ICBC [Industrial & Commercial Bank of China], which already earns nearly twice as much as JPMorgan. They'll probably be going a lot faster over time, and one day they can be a lot bigger than us. — Jamie Dimon
The term 'too big to fail' must be excised from our vocabulary. — Jamie Dimon
JPMorgan was already, for the most part. Our businesses at JPMorgan share the same cash-management systems. The commercial bank, the private bank, the retail bank, they all use the branches. The cash-management system moves the money around the world - for global corporations, and for you, the consumer, too. — Jamie Dimon
I'm not going to name anybody, but I think there are about five to 10 global institutions that will emerge as our primary competitors across the board. They're adjusting to this new world, like we are. — Jamie Dimon
The country [India] is doing far better. — Jamie Dimon
We've accommodated the new rules and regulations. We've served our clients and had quite good returns. — Jamie Dimon
The best way to look at any business is from the standpoint of the clients. So there are these certain basic things that aren't going to change. Companies are going to have needs for equity, debt, advice, FX, and derivatives. Individuals are going to have needs for auto loans, mortgages, something that looks like a deposit account, and the ability to send money to people. Those things aren't going to change. — Jamie Dimon
If you have the choice, it's far better to say, "That person has the job, and they really don't need that much of my oversight." Maybe they don't need any of it. — Jamie Dimon
My guess is the big Chinese banks will be in 100 countries by then. They will have very sophisticated operations, and they may very well have bought banks around the world in countries that allow it. I mean, I don't think the American government would allow them to buy JPMorgan. But they will be able to buy a sizable big bank in the U.S. at some point. Whether they do or not, or if it's allowed or not, I don't know. — Jamie Dimon
I don't mind paying higher taxes, because I've done quite well and I'm blessed to live in this country. — Jamie Dimon
It's great that people get together and collaborate, talk about the facts and the analysis, all in the interest of having a great financial system. — Jamie Dimon
Our investment bank looks like it does because its customers like our expansive network and want to do equity, debt, M&A, custody, move money, deposit money, et cetera. — Jamie Dimon
If you can't use dividends, it's not a bad thing to give it back to your shareholders. They'll use it somewhere else. — 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. — Jamie Dimon
We did not anticipate the political fallout from it. We definitely didn't need it and we paid it back the first day we were allowed to. — Jamie Dimon
Part of the reason some Japanese companies have underperformed financially was corporate governance and board structures. — Jamie Dimon
I've always wanted to help build a better society and build a better company, and I always wanted a healthy, vibrant company, a healthy, vibrant society. We take care of our people, we provide them with opportunity. But I've always believed business is here to serve your clients, your shareholders, your communities. If we do this well, everyone benefits. We have to do a good job for all of them. — Jamie Dimon
It's offensive to me to be called a cost cutter. — Jamie Dimon
Most CEOs are patriotic and most CEOs can see the problems in front of them, and they want to do something about it. We don't always agree about the ways and means, but the objective? We're totally together. — Jamie Dimon
My operating assumption is we will always have very tough competition. And even with some European banks struggling right now, some of them can reemerge - and maybe even stronger. — Jamie Dimon
Not every company went bankrupt. Not every bank needed TARP [Troubled Asset Relief Program]. So I'm very proud that JPMorgan, throughout that time period, was completely steadfast. We bought Bear Stearns because we thought we were helping the situation. We didn't cut and run. — Jamie Dimon
Just because we're stupid doesn't mean everybody else was. — Jamie Dimon
Walk into a Chase branch and we can give you so much quicker, better and faster. Like Wal-Mart. — Jamie Dimon
We represent companies from around the world who say, "I want to look at Japanese companies. I want to invest in Japan." — Jamie Dimon
The government isn't going to say, "We're going to regulate banks, but we'll leave these other companies alone." I think the regulators want to make sure that they have some form of regulation on anything systemic. We like our hand. But, you know, honestly, who owns the future? — Jamie Dimon
There is a lot of focus on that first rate move, and I'm not sure how important that is. — Jamie Dimon
I think if we had another set of policies for - not the crisis years, but after that, that we might be growing faster. But we didn't. And some of that was Republicans' [fault], by the way. — Jamie Dimon
Their [American banks] big issue will be if they want to deal with the biggest companies, which are doing a lot of business overseas. How they do that is a big question. It's almost impossible to build a global investment bank from scratch. If they want to do that, they probably will have to do an acquisition. — 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. — Jamie Dimon
Our plate is full. We have a lot to do building our company organically and that is our key focus. — Jamie Dimon
Unraveling the euro is a terrible thing. This is a 50-year endeavor to get this continent together and that's a wonderful endeavor. — Jamie Dimon
JP Morgan always has higher capital liquidity, that is partially to make up for mistakes and problems and obviously it's a tough economy. We support an oversight committee, we supported some of the compensation, new compensation rules, though we already follow most of them. We support a lot of it. — Jamie Dimon
We've had fairly consistent financial results. — Jamie Dimon
No one has the right to not assume that the business cycle will turn! Every five years or so, you have got to assume that something bad will happen. — Jamie Dimon
The Trump administration's economic agenda is the right agenda. Corporate taxes have been driving capital and brains and companies overseas for a decade. It has caused huge damage in investment and jobs and productivity. It was a mistake. We have to fix it. Counterintuitively, that usually helps middle-class wages, and lower-class wages, and job formation. — Jamie Dimon
We can take our Japanese clients around the world. We can take them to Brazil, Europe, anywhere. And we also take companies from around the world into Japan. — Jamie Dimon
Life Lessons by Jamie Dimon
- Jamie Dimon's success as a businessman demonstrates the importance of hard work and dedication to achieving one's goals.
- He also emphasizes the importance of taking risks and being open to new ideas and opportunities.
- Finally, his example shows that it is possible to succeed in business with a combination of intelligence, integrity, and determination.
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