LISTEN: The Greatest Moments Of Jamie Dimon's Embarrassing Conference Call

JPMorgan held a surprise conference call yesterday to announce a huge $2 billion loss in its synthetic derivatives portfolio. 

Throughout the 28-minute call, JPMorgan CEO Jamie Dimon repeatedly acknowledged the failure of his team’s strategy. Here are some of his best quotes from the call: 

  • “In hindsight, the new strategy was flawed, complex, poorly reviewed, poorly executed, and poorly monitored.”
  • “It was a bad strategy. It was badly executed. It became more complex. It was poorly monitored.”
  • “We’re willing to bear volatility, and um, that’s life.”
  • “This trading may not have violated the Volcker Rule, but it violated the Dimon principle.”
  • “Just because we’re stupid doesn’t mean everybody else was.”
  • “We’re not in a business where we are not going to make mistakes. We are going to make mistakes… I could never promise you no mistakes.”
  • “Even hindsight’s not 20/20, but with hindsight, yes, obviously we should have been paying more attention to it.”

Listen to Jamie Dimon’s best quotes from yesterday’s surprise conference call below:

Produced By William Wei

And check out how Jamie Dimon got to be the most admired banker in the world HERE >>

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