Jamie Dimon, who always covers a wide range of topics in his epic annual letter to JPMorgan Chase shareholders, wrapped up this year’s letter with a meditation on leadership titled, “What works and what doesn’t work.”
Jamie Dimon, who always covers a wide range of topics in his epic annual letter to JPMorgan $JPM Chase shareholders, wrapped up this year’s letter with a meditation on leadership titled, “What works and what doesn’t work.”
The advice is aimed squarely at politicians—not bankers—and it’s rooted, Dimon says, in what he’s learned from “presidents, prime ministers, chief executive officers, nonprofit directors, and other influential civic leaders” he has met in his world travels.
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The JPMorgan chairman and CEO wasn’t naming names, but it’s hard not to see the rather obvious swipes he seems to be taking at a certain Republican candidate for the US presidency.
What “doesn’t work,” according to Dimon:
Like when Donald Trump says, in regards to his controversial immigration policy proposals, “We either have a country, or we don’t have a country”?
This is essentially the basis of Trump’s foreign policy.
Or several of them.
For instance, describing police as “the most mistreated people” in America at a GOP debate?
Paging Megyn Kelly.
And what does work, according to Dimon, are a collective Achilles heel for Trump:
Not from the man who threatens “riots” should he be passed over for his party’s nomination.
Also not a Trump strong suit—unless you’re in the audience at one of his rallies and uttering a tasteless word to describe Republican rival Ted Cruz. Then he might listen well enough to at least repeat what you’ve said.
Let’s start with Trump University, shall we?
Dimon recognizes that it’s no easy thing to be a political leader. But “while politics is hard (in my view, much harder than business),” he writes, “breeding mistrust and misunderstanding makes the political environment far worse.”
Asked whether Dimon wrote this passage of the letter with Trump in mind, a JPMorgan Chase spokesperson said the company wasn’t going to comment.
