'The market doesn't care who you are': 11 of JPMorgan CEO Jamie Dimon's best quotes

Shalini NagarajanJun 17, 2020, 23:53 IST

Jamie Dimon, CEO of JPMorgan Chase, takes part in a panel discussion about investing in Detroit at the Kennedy School of Government at Harvard University in Cambridge, Massachusetts, U.S., April 11, 2018.Brian Snyder/Reuters

Jamie Dimon is best known for leading one of the big four American banks, JPMorgan Chase.
Dimon frequently shares opinions on the world economy, politics, investing, and more.
Markets Insider rounded up 11 of his best quotes of all time.
Visit Business Insider's homepage for more stories.

Jamie Dimon, the chairman and chief executive of JPMorgan Chase, is one of the most well-known bankers in the world.

Back when bitcoin was a bubble among crypto-investors in late 2017, he made headlines for saying "if you're stupid enough to buy it, you'll pay the price for it one day."

Just a few months later, he retraced his stance on the then-futuristic currency and said he had come to see merit in the unique type of financial instrument. JPMorgan even went on to develop a platform using blockchain technology to process private transactions.

More recently, he has said the coronavirus pandemic is a "wake-up call" to build a more inclusive society that recognizes the financial situations of all parties involved in the economy.

Dimon has said he looks forward to share more ideas on how to create an economy that is stronger, more resilient, and offers "widespread access to opportunity."

We rounded up 11 of Jamie Dimon's best quotes below:

On being too big to fail: "No financial system can operate efficiently if financial institutions and investors assume that government will protect them from the consequences of failure. The term 'too big to fail' must be excised from our vocabulary."

Reuters

On being too big to fail: "No financial system can operate efficiently if financial institutions and investors assume that government will protect them from the consequences of failure. The term 'too big to fail' must be excised from our vocabulary."

On building success: "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."

Associated Press

On building success: "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."

On cost: "All businesses tend to pass their costs on to customers."

Jamie Dimon, Chairman and CEO of JPMorgan Chase & Co. speaks during the Milken Institute Global Conference in Beverly Hills, California Thomson Reuters

On markets: "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."

Jamie Dimon, chairman & CEO of JP Morgan Chase & Co., speaks during the Bloomberg Global Business Forum in New York City Reuters

On the US: "It's good for America when the rest of the world grows, because you can sell more to the rest of the world."

AP Images

On the post-financial crisis years: "You cannot prove this in real time, but when economists 20 years from now write a book on the recovery, it may well be entitled: 'It could have been much better.'"

Jamie Dimon, the chief executive of JPMorgan. Misha Friedman/Getty Images

On the post-financial crisis years: "You cannot prove this in real time, but when economists 20 years from now write a book on the recovery, it may well be entitled: 'It could have been much better.'"

On how great the US is: "America has the best hand ever dealt to any country on this planet, ever. Yes, we have problems, but you travel around the world, you'll see we have it all."

Jamie Dimon, chairman and CEO of JPMorgan Gretchen Ertl/AP

On how great the US is: "America has the best hand ever dealt to any country on this planet, ever. Yes, we have problems, but you travel around the world, you'll see we have it all."

On life: "I don't necessarily assume I'm going to live for 10 years. And you want to live very deliberately. You want to end every day and say, 'That was a good day.'"

Reuters

On his political loyalties: "My heart is Democratic but my brain is kind of Republican."

REUTERS/Brian Snyder

On stupidity: "Don't do anything stupid, and don't waste money. Let everybody else waste money and do stupid things, then we'll buy them."

REUTERS/Benoit Tessier

On Wall Street: "On Wall Street there is no 'Wall Street.' There are individuals. So 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."

Reuters

On Wall Street: "On Wall Street there is no 'Wall Street.' There are individuals. So 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."

Facebook lost a director to Warren Buffett's Berkshire Hathaway in March. Here are the social network's 9 board members.

Cookies on the Business Insider India website

'The market doesn't care who you are': 11 of JPMorgan CEO Jamie Dimon's best quotes

On being too big to fail: "No financial system can operate efficiently if financial institutions and investors assume that government will protect them from the consequences of failure. The term 'too big to fail' must be excised from our vocabulary."

On building success: "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."

On cost: "All businesses tend to pass their costs on to customers."

On markets: "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."

On the US: "It's good for America when the rest of the world grows, because you can sell more to the rest of the world."

On the post-financial crisis years: "You cannot prove this in real time, but when economists 20 years from now write a book on the recovery, it may well be entitled: 'It could have been much better.'"

On how great the US is: "America has the best hand ever dealt to any country on this planet, ever. Yes, we have problems, but you travel around the world, you'll see we have it all."

On life: "I don't necessarily assume I'm going to live for 10 years. And you want to live very deliberately. You want to end every day and say, 'That was a good day.'"

On his political loyalties: "My heart is Democratic but my brain is kind of Republican."

On stupidity: "Don't do anything stupid, and don't waste money. Let everybody else waste money and do stupid things, then we'll buy them."

On Wall Street: "On Wall Street there is no 'Wall Street.' There are individuals. So 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."