How Jamie Dimon Built Chase Into the U.S.’s Most Powerful Bank | WSJ
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- Опубликовано: 27 май 2024
- Jamie Dimon, CEO of JPMorgan Chase, is among the most powerful names in the banking industry. How did he come to acquire banks like First Republic Bank, Bear Stearns and Washington Mutual?
WSJ explains how Dimon’s risk management strategy, including his ‘fortress balance sheet,’ propelled him to the top of the largest U.S. bank, and how he has used that role to become the go-to voice for the banking world.
0:00 Dimon’s bank owns roughly 13% of the nation’s deposits
0:38 Dimon’s history and banking strategy
2:06 JPMorgan Chase’s size
4:44 Dimon’s influence on the banking industry
6:20 Dimon’s future
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#Chase #Investing #WSJ
That guy talking about Jamie was Glazing so hard 😂😂😂
i know jamie’s meat was smacking against his cheek bro was glazing crazy
😂
I mean he’s probably made a TON of money from investing in JPM lol
To introduce a his key concept of a "fortress balance sheet" and only explain it with the animation of a castle is not worthy of the Wall Street Journal. Those of us who used to read the paper version of the WSJ would love to see you put up a copy of their balance sheet from their annual report and highlight each item that is evidence of the fortress. We're not afraid of numbers or ratio analysis.
It's all public information.
Haha yeah they did gloss over that. By the time the video finished I forgot I that they never explained it. Good catch.
@@AnthonyClauser Yeah but OP is not the one who posted a video about JP Morgan. It's literally the job of the journalists & producers behind this video to explain stuff to the public. Seems they could have added another minute to give examples of what a fortress balance sheet is.
WSJ is a biased elitist fascist org that produces propaganda and on occasion investigative pieces so it can feint credibility. Like cnn, rest of corp media.
@@methos-ey9nfagreed.
I was w/ BankOne in the early 2000s when JD came in to be CEO, w/ Charlie S as CFO, Austin A as CIO and a slew of other key lieutenants - shortly there after Chase and BankOne merged and the BankOne crew pretty much took over the combined institution… I spent 15 yrs working there, across multiple LOBs and around the globe… I recall working on a huge tech-op conversion in the payments area, as part of the B1-Chase integration effort - it was conversion weekend - Friday wherein we were operating a global systems upgrade that started at midnight GMT in London - it was 5am in Chicago, where our global command center was located in a huge 3rd lower-level basement conference room site wherein each line of business had its own “war room” attached to the main command center. I was the overall PGM for the Global Tech & Ops org… it was 5am CST…. These series of rooms off of the main hallway, have controlled access - I happened to be walking by one such door, on my way to a global check point call when I notice a person looking through the doorway and knocking - I look out and am certainly surprised to see JD, in a suit albeit w/ collar open and tie loosened - I open the door to allow entry and he shakes my hand, saying “I heard you folks are doing good things down here and I wanted to stop by to learn more - he proceeded to spend 90 minutes w/ us, both in our checkpoint call w/ the global team, as well w/ our small war-room team, asking questions about Ops sites, Tech environments, how the payment “supply chain”, including the Fed Resv, payment clearing houses, international payments clearing, etc work. I’ve worked for a few other super-huge global firms but have never had more respect for an executive that had sufficient curiosity about the businesses that he led, to actually (and w/out an entourage of underlings) invest his own time to learn and participate….
Great story and experience. Jamie Dimon gives off true ENTJ vibes.
Great story and experience . It's clear that JD leads by example and that deserves nothing but total respect.
Awesome story should have way more than 46 likes
Tldr
Thanks for sharing 👍
What a fluff piece! Maybe describe exactly how they have a fortress balance sheet rather than that juvenile animation.
exactly. Jamie Dimon makes taller walls in the fortress balance sheet. That makes sense. Thats why He made sure epsteins money was safe, and was somehow able to survive the banking crisis in 2007 when all the other banks were failing. The federal reserve knew exactly what it was doing and planned the 2007 crash. Jamie Dimon saw it coming as well, and made sure it survived. This is public information. What is not public is did Jamie tell the fed to keep the rates low in order to grow the bubble, and then pop it so it could get some cheap banks?
@@davidanalyst671well I doubt the last part. Because the government urged him to take over Bear Sterns but still issued a fine on him for Bear Sterns inadequacy
Go do your own research. This is just a tip of information. Do you want everything handed to you
It's been years since I left JPMC and yet Jamie Dimon is still an inspiration.
They’re being sued right now for their ties with Epstein
To me his career seems so impossible that I don't even feel inspired! He is an alien to me!
I would define him as a thief!
He's no different than other crooks in the finance industry.
@@firefly4907 First National Bank of Epstein?
Investors cannot predict the future in negative markets since they always bring in a new set of enterprises to purchase and watch while laying the groundwork for a new successful ascent. Which stocks are the best to add to a watch list or buy right now? I've seen news stories of folks making up to $250k during the recession.
Especially during an inflationary period, investors should exercise caution when it comes to their exposure and new purchases. Only under the guidance of a qualified expert or reliable advisor are such large yields in this recession achievable. Mark Stuart Jordan is the financial advisor that helps me. He has a large following and is easily found online. He has an extensive understanding of the financial markets.
“I don’t know what that word means anymore” genius level answer sincerely.
He is well-coached.
Jamie is a gifted communicator who manages to communicate something complex so that the messages are easier to understand. He is an asset to the United States.
He literally helped fuel the homeless crisis. Insanity and immorality all around here.
@@David-wc5zl I am very interested to hear how a single man could achieve such a result?
@@glennnielsen8054 A single man didn't do it by himself, that's why he said "helped". Reading is fundamental.
At the very least, I now grasp the concept of leverage.
Creating
Yeah, that guy is one asset manager that gives the breakdown of everything on how things are done, joining an effective financial community can be 100% beneficial when joined properly that's all I can say out of experience
Thank you so much for the advice. Your coach was simple to discover online. I did my research on him before I scheduled our phone call. He appears knowledgeable based on his online resume.
I curiously made a research of his full names after reading what you shared, I came across his webpage on-line. My portfolio suffered a big hit, holding it further won't be any good. I've heard of people netting hundreds of thousands this red season I'm really glad to see this...
Is this scam? Look like fake comments to me
@user-mf8yb5ih8c ofc it is. There is a pattern to these. Its painfully obvious that they are bots once you come across a few of these. They all have the quintessential AI way of speaking, very matter of fact, no slang, no emotion. Then they offer up a name. If you go to videos on crypto, or videos of forex, or videos on "how to make money", the comments are predominantly bots with tons of replies all by bots. Its quite funny
The guy loves him so much
the guy is gay
It’s weird 😂 just a bunch of criminals
What matters most is “it’s beneficial to him & to the government”… plain & simple…enough said
u don"t get off that Easly.....................................
When it comes to corruption J.P. Morgan make Credit Suisse and Deutsche Bank,
look like Altar👼 Boys
First National Bank of Epstein?
For 100 years the Bank that Rockefeller's bought has used their influence to make deals that have made the Family Bank into a formidable organization.
David and Nelson were influential on several levels as Nelson worked the Partisan battles and David arranged the Corporate effects.
The Castile they built in Saigon appeared to be some new center of an expanding Colony in Southeast Asia.
Nelson was a Candidate for the Oval Office several times, and appeared to be among the group of Investors who choose the names that appear on a Ballot.
Their influence is subtle and influential.
They hired Hank Kissinger to assemble the document that appeared to be used to convince US Legislators and Presidents to commit US Troops to support the exploitation of Vietnam.
The apparent failure of the US seemed to prevent Anaconda corp ( another Rockefeller Industry) from mining the Central Highlands, but their investments in Chemical Companies produced profits as Vietnam was covered in defoliants.
The Chase Bank in Saigon, of 1969 is now joined by 4 other branch locations in that Nation that interpret profits for Chase as the Vietnam Oil sales to the US flow along with a small fee to insure that the purchase is a success.
As the Family Members attempt to avoid the spotlight, Diamon seemed to emerge to replace David Rockefeller as the Guy with the Cash Drawer.
The ability to convince the Nixon Administration to convert the US to the use of Fiat Dollars, seems to have helped drive the Chase to the top of the financial markets that decide "US Interests" as they have for over 100 years.
But you all knew that............Right?
lol you basically took a short quote from an excerpt of the video on the financial crisis and used it to generalized the entire video. Where did that logic come from xD
@@RandomVideos-re9ux The Authorized Family Biography and a few decades of watching how economics works after I gave up on participating after 50 years.
What generated your Critical interest?
Am I disturbing the Force of Capitalism?
I happened to work for Chase in upper management capacity and I can summarize how Jamie Dimon built Chase into the most powerful bank in America with one word, RUTHLESSNESS. I recall reading an article in Ohio newspaper in early 2000 that Chase committed to Ohio Governor to create 2500 jobs in the following year in lieu of millions in tax breaks. I was shocked that Chase started laying off employees right away in order to hire 2500. Unfortunately, none of Ohio politicians cared nor held Jamie Dimon accountable by playing politics in order to save millions on their income taxes. This is just a snapshot on how Jamie Dimon made Billions for himself by DESTROYING many lives without any conscious.
There are many conflicting opinions about stocks and their prospects in the coming years; I aim for short-term solid gains from market corrections, and I would definitely hop on the ride if I knew a couple of things about day-trading, That is not on my speed right now i guess.. I'm just looking to make the right moves to help me grow and protect my $670,000 reserve from inflation that looks so scary.
It's all hype! best to ignore the trend at the moment whether bullish or bearish, and stick to a proper trading plan preferably with expertise assistance.
Yeah, another reason I enjoy my day-to-day market decisions is that am being guided by a portfolio-coach. Given that their entire skill set is built around going long and short at the same time, both employing profit-oriented strategy and laying off risk as a hedge against the inevitable downtrends, it's nearly impossible not to outperform. Since using a coach for two years and counting, l've earned more than $1.7 million in return on investment.
@@edward.abraham I just started a few months back, I'm going for long term, I'm still trying to wrap my head around it, who’s this advisor you work with ?
@@Kim.beneteau Do your homework and choose one that has strategies to help your portfolio grow consistently and steadily. ‘’Julia Ann Finnicum” is responsible for the success of my portfolio, and I believe she possesses the qualifications and expertise to meet your goals.
@@edward.abraham Thanks for sharing this.I just looked her up on the web and your advisor looks advanced and experienced. I will write her an e-mail shortly.
I respect Dimon alot. I was with Bank One in the early 90s. Later in the early 2000s I joined Chase Bank. He is intelligent business man.
Jamie definitely runs a tight ship. He is rich enough to never have to work but continues to work. I think hes the only person in history to become a billionaire by working at a company as an employee
He’s definitely not the only person. Tim Cook is another and I’m sure there are many others.
I would like to hear Jamie Dimon, in detail, explain what scared him away from sub-prime mortgages, and why he thinks everyone else, except The Borg (Goldman), missed those cues.
Goldman made out by making side bets against mbs
This isn't true though. They invested in subprime all the time, jumping in and out because they knew it was a terrible risk.
@@zander9158 I want to hear it directly, from Dimon, in front of Congress, under oath.
Imagine what Citi would be if Dimon became CEO
Sandy Weill must still be kicking himself. What a short sided move.
@@tomfaz4193
Sanford I. "Sandy" Weill is greater than Mr. 💍
There would be no Jammie💍 without Sandy Weill
This is one of the biggest "what ifs" in US business history. Another interesting one is that Jeff Bezos offered him a VP role at Amazon after he left Citi.
Then Citi would be the First National Bank of Epstein?
What would Citi be now if not for Walter Wriston back then....? 🤔
nice video, on a side note a shout out to your editor/animator, they did a really good job
Jamie is a successful CEO, during all the turbulence the bank didn’t collapse.
Almost as if he knew all the turbulence was coming, and was working with people at the federal reserve. This video says that politicians will work with Jamie 1 on 1, so why wont the federal reserve?
bot
2008?
No one can fill the shoes.
What he did was figure out how to restore a big bank’s reputation after the crash of ‘08 and use his own role to push for social and economic criticisms in America.
Probably the only corporate banker worthy of respect.
That young dude sounds like he is in love with Jamie Dimon
I don’t directly invest in JPM stocks but I do like to focus on ETFs that have stock into it since I can own a small piece of it. Dimon is like the godfather of the banking industry and eventually I’d like to buy some stock in it cause I feel like under his leadership he’s built JPM to be a giant in the industry and under his tutelage I’m sure even when he’s retired whenever that happens there’s plenty of execs that can take his place
Very good idea!
6:01 he’s so real for that
this reporter seems in love with Jamie Dimon... LOL 6:15
First National Bank of Epstein?
Wonder why the government allowed them to break banking regulations and go over 10% of US deposits? 🤔 🤦♂️ 🤷♂️
Remember the CNBC correspondent involved with a millionaire, I think while she was married?
ikr 😭
He’s clearly a shill. I’m sure he worked for Chase or will in the future. And why is WSJ interviewing their own reporter? Propaganda 💁♂️
Thank You
I don't usually listen to people talk , he's an individual where you know he's trying to be real while letting you know he's human. I actuality enjoy listening
I always love WSJ videos. As an Econ major, I can’t wait for new uploads lol.
In these uncertain times, it's more important than ever to have a solid understanding of how to manage your finances, invest wisely and navigate economic downturns. But my primary concern is how to grow my reserve of $240k which has been sitting duck since forever with zero to no gains, sure I'm all in on the long term game, but with my savings are lying waste to inflation and my portfolio losing gains everyday, I need a remedy.
@@user-hz8fm3dg6x you are completely right, Advisors have information and paths that are not disclosed to the public.. I profited £560k in 2022 under the tutelage of my Fiduciary-counselor. Am I selling? Absolutely not.. I am going to sit back and observe how this all plays out.
@@yolanderiche7476 who guides you. might just be what i needed now
@@alexsteven.m6414 My advisor is "Jeffrey Harold Starr" he’s highly qualified and experienced in the financial market. he has extensive knowledge of portfolio diversity and is considered an expert in the field. I recommend researching his credentials further. he has many years of experience and is a valuable resource for anyone looking to navigate the financial market.
@@yolanderiche7476 I'm sure he is. Didn't he get charged for child abuse?
If you in the long term , you shouldn’t be concerned about macro economics. Invest in good solid companies trading at a discount to cash flow that’s what I do for my clients and for myself
Executive compensation is too high for an industry that basically sits and holds (certainly in proportion to doing actual work).
That is the main sickness in banking.
When I was asked about how I felt about this video, my response was: "I don't know I'd have to think about that."
I have been a customer since 1966. The bank has always treated me fairly.
Wow inspiring 👏 ✨️
I closed my account with Chase bank for one simple reason...for over a year i kept telling them not to send mail to my house. (I was sharing a mail box with apartment building neighbors) Not only did they refuse to not send mail...They continued to send mail after i closed my account...When i went to the main office and brought all the mail in showing the manager all the mail...her response was..."This isn't mail. This is how you can save with our new "freedom card". I finally got rid of there junk mail by moving and not sending any forward address. The bureaucracy to do one simple little thing was AMAZING!
Jamie is going down as a great man and a great businessman.
bot
The financial system has been artificially pumped for over a decade to ensure big pockets were lined; and now those same hands will make a fortune in the largest transfer of wealth in human history by shorting it on the way down. Inflation does have a roll, but that's to keep everyone panicked, and focused on their bills and expenses, rather than focus on the capital crimes of politicians and corporations,I'm still at a crossroads deciding if to liquidate my $338k stock portfolio, what’s the best way to take advantage of this bear market?
Find stocks with yields that exceed the market and stocks that, at the very least, follow the long-term market trend. However, you should get guidance from a financial advisor if you want to create a successful long-term plan.
Buy Palantir & Tesla that’s all.
Taking notes
Let’s not forget that JP Morgan was handed a check of $9 Billion dollars by Mitsubishi back in the 2008 financial crisis. If it wasn’t for Japan’s Mitsubishi buying a stake, JP Morgan would’ve suffered the same fate of Merrill Lynch and be acquired by another bank.
Aligns perfectly with the namesake
Diamond not Dimon
Would, First National Bank of Epstein now be the namesake instead of JPM?
That's a Jamie fan right there
love him! a great leader.. so inspiring
Thanks boii, going to make some money now.
Jamie is a very generous ceo and that makes the company too. You are well compensated❤
bot
What we actually want to hear from the Wall Street Journal is what exactly Jamie and the Federal reserve talk about, and how every bank in the world had MBS but Jamie avoided it, and Jamie somehow grew bigger by buying up banks the federal reserve crashed in 07,08, and now 2023. Jamie knows failing banks is good for business, so does he talk to the Fed about that? The federal reserve at this point in time is keeping interest rates high... did Jamie Dimon tell the federal reserve to keep rates high in order to crash more banks?
So you're implying the Feds knew before hand what a mess MBS would be and allowed multiple banks to fail, that it was glaringly obvious because somehow the feds knew but all the banks failed to see it, and that the Feds knowingly let the economy tank? Talk about illogical conspiracy theories.
Top indicator
Its truly inspirational to hear about JD’s leadership.
When JPMC purchased FRB, they now have 16% of the market breaking section 622 of the Dodd-Frank act. FDIC/the Fed/US Treasury facilitated a deal that broke the law. And no one is talking about it.
Thank you
That reporter of yours is like a Taylor Swift fan - just for Jamie Dimon. The fortress principle could use a more thorough explanation, though. That one was lax.
Nice
What Jamie is doing is common sense. Nothing special. But he has the guts to do it while others are reckless and greedy
The sauce of Jimmie Dimon is that he inspires his employees and others, which is leadership, it shows with JPMC Numbers, culture, and his management. Thank You, Jimmie, for inspiring me, I never meet you and I never worked at JPMC. Just a big fan of yours. WSJ Thank YOU for making this video
BS. First National Bank of Epstein?
Wonder why the government allowed them to break banking regulations and go over 10% of US deposits? 🤔 🤦♂️ 🤷♂️
You're riding his meat heavy bro
Bot
NICE
So safe, they pay almost nothing for CD’s and savings. In some parts of the country, they require a 500+ minimum deposit to avoid a “convenience” fee.
They dont want peasant clients
@@jackiewong8520 First National Bank of Epstein?
It's funny because in the UK, they pay the highest rate on CD and comparably high rates on savings. Once they get the market share, things might look like the US.
Try brokered CD markets. They are highly competitive and JPMC pays some of the highest rates.
Chase's Preferred Relationship Savings Account pays 0.02%. That is the same they were paying three years ago when the Fed had rates at basically zero. At least Citi has been trying to be somewhat competitive on what they pay with their savings accounts.
That first full graphic was funny, I literally couldn't tell these guys apart
Just love the man ❤
This is the first time I've heard a good banker actually exist
Dimon? Good?? Do you believe all propaganda???🙄🤡
This is a story about a popular banker who made a deal that is beneficial to him and to the government, I advise you to ignore everything else
Its 2023, and the federal reserve crashed 3 large banks this year, and Jamie Dimon ended up buying them. Are you telling me you think he's the good guy even when he had direct interaction to make sure that Jeffrey Epstein was happy in his bank?
Good in a sense that he runs the bank really well not a morally good person, he is banker after all.
Rich keep on getting richer!!!!!!!!!!!!
Too big to fail.
Thats the dream isnt it?
First National Bank of Epstein?
Wonder why the government allowed them to break banking regulations and go over 10% of US deposits? 🤔 🤦♂️ 🤷♂️
Fortress Balance Sheet ✔️
case study byd & effect of efficient global capital portfolio management in a detente world.
Dimond blackwight combination coverage planing
Bless for CEO Jamie Dimon
They became the biggest because JPM was one of the only big banks that were scratching their heads at how people were being able to "offload" risk on the MBS' and CDO's, only to realize during 2008, that people weren't. The banks just took em because "oooooh, shiny mOnEy". So they came out of the 2008 recession relatively healthy compared to the others.
Great bank and nice bank to work
Someone is seriously in love with Dimon. Get a room, please!
JPMorgan Chase
Vision (outline)
Principle: Simplicity
Principle: Unchanging
Aim - most respected financial services firm in the world
Serve: Corporations
Serve: Individuals
Company Imperative: healthy
Company Imperative: vibrant
Company Imperative: responsible
Model: Traditional Banking + (plus)
Communities
Operations
Foundations
Opportunity (for all)
Prosperity (for all)
Mistakes (acknowledgment along the way)
Pride (daily good things)
Make a mistake (own up)
Make a mistake (learn from it)
Make a mistake (move on)
The magnetic field in HSX is generated by a set of 48 twisted coils arranged in four field periods
good.
So have a contingency and a management reserve in multiple points of your organization.
Chase sold and capital one and eventually credit one bank and wells fargo branch only so applicable as i had a son/Alyster, so applicable.
Mr Dimon built a strong and fantastic business model, He also is a good seller. They mentioned the amount of deposit at J.P Morgan, but if you consider shareholder returns in the past 10 years, it's an even bigger proof that he's done a goob job managing the bank.
I wish one day I could work for his firm
I was fortunate enough to meet him when I first started at Primerica when art Williams sold Primerica to Sandy Weill when travelers merged with Citi to become
Citigroup. Right before sandy fired him which turned out to be the best thing that ever happened to him ironically
2:19 keeping the JPM legacy alive.
After some year I will become like Jaime Dimon🎉🎉. I truly admire him 🎉🎉🎉.
I'm seeing him as the next FED Chairman.
There’s 0 incentive for him to take that path
Banks take in massive amounts of consumer deposits, often paying extremely little interest, and then originate loans with that money that capture a high interest rate.
Banking with these kind of corporations isn’t financially savvy IMO. I suggest everyone reading this start a Discover Online savings account. They offer nearly 4% APY so at least you’re getting something out of the arrangement and not giving all the potential interest income to the greedy banks paying next to nothing.
I got a credit union im good .
Charging you $10 to use your own money lol
Yeah it’s insane!
Especially when you have a business acct and you gotta shave $70,000 in order to waive the business fee
Nobody rides for free.
If you open a Chase savings they charge you on top of your checking fees. it's usury, nothing new under the sun but GOD allows it?
Where? Monthly fees can be very easily avoided.
@@Owl-of-Minerva strawman argument
Jamie Dimon is an outstanding citizen 👏
what a legend
Jamie Diamond 💎
Great job 👏 Jamie one of the best ceo thank you . I’m a Proud shareholder
This guy sounds great
How about, to protect deposits, just keep the deposits imstead of buying additonal assets with debt.
At Morgan Stanley as well
Doesn’t he seem…*TOO* good?
First National Bank of Epstein?
Wonder why the government allowed them to break banking regulations and go over 10% of US deposits? 🤔 🤦♂️ 🤷♂️
Jamie Morgan Chase.
Game recognize game, playa.
Dimon by name, Demon by nature?
First National Bank of Epstein?
Wonder why the government allowed them to break banking regulations and go over 10% of US deposits? 🤔 🤦♂️ 🤷♂️
Chase really does have the best products in the industry by far
List 2!
It aint its savings
But what about the four pillars of the fortress?
the male commentator you selected to be in jimmy’s fan club
Thank goodness for Jamie, every other bank ceo seems sleezy, he says what he thinks, that’s more than a lot of people
And by doing that he comes off better and a little more transparent?
сильно конечно) а как долго ты учился так играть можешь рассказать?
"I'm not going to play golf" , deep words.
The content is great, but your editors REALLY need to up their game. Random RUclips channels with 10k subs have better editors than the WSJ.
The audio is everywhere. I listen on speakers and I could not hear half of the people and the other half were WAY TOO LOUD.
The fortress strategy end game was always become too big too fail.
Long Live the King!
So... wheres the balance sheet?
He’s a beast
Meanwhile, BofA's Moynihan's being the 10 feet giant hiding in the shadow of Diamon's 12 feet fortress.