JPMorgan is an exceptional bank. Extraordinary, even.
That’s according to chairman and CEO Jamie Dimon, who published his annual letter to shareholders (pdf) today. As the boss of the largest bank in the US by assets, Dimon’s words are closely followed, not least in this letter, which he uses every year to muse on banking, business, and public policy. (This year’s letter runs to 45 pages.)
Per usual, Dimon thinks regulations are too strict. That said, ”a more business-friendly environment” is on the way soon (cough, Trump, cough), which is partly why the bank’s share price has soared over the past year, he writes.
Another major theme of the letter, it may surprise you, is how great JPMorgan is. “Ours is an exceptional company with an extraordinary heritage and a promising future,” the CEO writes at the outset. “Exceptional” and “extraordinary” are two superlatives that Dimon has been using more lately, about a wide range of things. For market watchers looking for an edge, a meta-analysis of the effusiveness of Dimon’s praise may serve as a useful indicator.
Things that are “exceptional”
The bank 1
The bank’s people 2
The United States of America (twice) 3
Things that are “extraordinary”
The bank’s heritage 4
The bank’s capabilities 5
The bank’s accomplishments 6
The bank’s benefits and training 7
The bank’s corporate responsibility 8
The number of calculations required to measure capital and liquidity requirements 9