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The banks earning the highest returns on equity before 2007 mostly went bankrupt, and earning less in the good years is what let JP Morgan survive.
Drawn from what Jamie Dimon said
Mental modelMargin of safety
What Jamie Dimon actually said
- Jamie Dimon Chairman and chief executive of JPMorgan Chase
if you look at the history of banks from up until 2007, a lot of banks were earning 30% equity. Most of them went bankrupt. We never did that much. Okay, but in '08 and '09, we were fine, and they weren't.
Where this was said
Watch from 0:23:16 plays here↗The Jamie Dimon Interview: How JP Morgan Became an $800 Billion Bankyoutube.com
All 19 korrents from this recordingthis one is 5th
Added to korrents 7 Sept 2026 · How quotes work · Something wrong? Tell us
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