No. of Recommendations: 13
Huge Jamie Dimon fan. One of the great CEOs of all time. His leadership during the Financial Crisis, especially was fantastic--as Buffett pointed pout.
That said--when was the last time Jamie Dimon was NOT "concerned"??? He's in the "concerned business". Thats what he's paid to do. He does it well. Great financial industry managers spend every day in the concerned business.
He worries about inflation, disinflation, stagflation, global geopolitics, terrorism, productivity. And I assure you he'll worry about that next year too.
If you sold stocks because of Jamie Dimon's "concerns" you've missed one of the great rallies of all time. And each time after Jamie makes a statement that draws market attention-- days later he always seems to say something to the effect: "what I said was taken a bit of context in in no means a call to sell stocks". Problem is--that reaction gets zero publicity.
And when "concern" morphs into "consensus", like when you hear "there's never been MORE uncertainty" repeatedly on CNBC--Howard Marks explains that's the healthiest sentiment environment possible with respect to valuations. Cycles matter and that's NOT what occurs at tops of cycles. Common sense.
