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← People and their mental models

Jamie Dimon's mental models

3 claims Jamie Dimon made fit 3 mental models. Most often: Leverage, Margin of safety, Power laws. Everything they said here.

Models they name

Their own words name the idea.

Leverage

Tools, code, capital and debt multiply what one person can do, in both directions.

Others who think with this model

Alexandr WangDex HorthyHoward MarksTom Verrilli

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In financial services what kills you is leverage and aggressive accounting, not bad luck.

  1. Jamie Dimon Chairman and chief executive of JPMorgan Chase And and the thing about financial services, leverage kills you. Aggressive accounting can kill you, which a lot of companies do do. The Jamie Dimon Interview: How JP Morgan Became an $800 Billion Bankyoutube.com · 16 Jul 2025 · 0:22:21 into the videoAll korrents from this video
    Their wordsAnd and the thing about financial services, leverage kills you. Aggressive accounting can kill you, which a lot of companies do do.

    Where this was said

    Watch from 0:22:21 plays here

    ↗The Jamie Dimon Interview: How JP Morgan Became an $800 Billion Bankyoutube.com

    16 Jul 2025 · video · 1h 06m · spoken · machine transcript

Power laws

In many things a few cases account for most of the result, so the average misleads and the outlier decides.

Others who think with this model

Nassim Nicholas TalebAlbert-László BarabásiBen CarlsonBill GurleyBrian PotterMike Kriegerand 3 more

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A bank should be managed against the fat tails it can imagine, not against the stress test its regulator hands it.

  1. Jamie Dimon Chairman and chief executive of JPMorgan Chase And so, I always look what I call the fat tails and manage that we can handle all the all the fat tails. And not the stress test the Fed gives us, but all the fat tails. The Jamie Dimon Interview: How JP Morgan Became an $800 Billion Bankyoutube.com · 16 Jul 2025 · 0:22:06 into the videoAll korrents from this video
    Their wordsAnd so, I always look what I call the fat tails and manage that we can handle all the all the fat tails. And not the stress test the Fed gives us, but all the fat tails.

    Where this was said

    Watch from 0:22:06 plays here

    ↗The Jamie Dimon Interview: How JP Morgan Became an $800 Billion Bankyoutube.com

    16 Jul 2025 · video · 1h 06m · spoken · machine transcript

Models we see in what they say

Our reading: their claim applies the idea without naming it. The claim is theirs; filing it here is ours.

Margin of safety

Leave room for being wrong, because sometimes you will be.

Others who think with this model

Morgan HouselBill AckmanBrian PotterChamath PalihapitiyaDario AmodeiMatt Kepnesand 3 more

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At a market price-earnings ratio of twenty-three there is little upside and a long way to fall, where at fifteen there would be much less risk.

  1. Jamie Dimon Chairman and chief executive of JPMorgan Chase if we if if today PEs were 15 as opposed to 23, I say that's a lot less risk. A lot less to fall and you have some upside. I would say at 23, there's not a lot of upside and there's a long way to fall. The Jamie Dimon Interview: How JP Morgan Became an $800 Billion Bankyoutube.com · 16 Jul 2025 · 0:48:34 into the videoAll korrents from this video
    Their wordsif we if if today PEs were 15 as opposed to 23, I say that's a lot less risk. A lot less to fall and you have some upside. I would say at 23, there's not a lot of upside and there's a long way to fall.

    Where this was said

    Watch from 0:48:34 plays here

    ↗The Jamie Dimon Interview: How JP Morgan Became an $800 Billion Bankyoutube.com

    16 Jul 2025 · video · 1h 06m · spoken · machine transcript