By Patricia Crisafulli
Praise for The apartment of Dimon
"Without the profanity and showmanship, Jamie, in the international of industrial, jogs my memory so much of George S. Patton, America's optimal WWll battlefield basic. either learn heritage, ready meticulously, and led from the front—innovatively and instinctively. either have been confrontational. whilst requested what unit they'd served in throughout the warfare, such a lot contributors of the 3rd military replied proudly and easily, 'I used to be with Patton.' probably in the future these at JPMorgan will say the same."
—Wick Simmons, former CEO of Nasdaq and Prudential Securities
"If you care approximately what it takes to be a winning CEO within the most complex industry ever, you'll want to learn the home of Dimon. Patricia Crisafulli has captured the expansion and improvement of 1 of the main amazing CEOs of our time."
—Frank Zarb, coping with Director, Hellman & Friedman LLC
"The condominium of Dimon is a brilliant learn, permitting you to watch Dimon's real strategic activities. he is a pace-setter who does not obsess over predicting the long run yet units his association on its ft able to flow in any course while an issue or chance arises. For readers drawn to actual management, it really is an motion mystery. Dimon walks the controversy doing the suitable factor even if it hurts within the brief term."
—William J. White, retired chairman and CEO, Bell & Howell corporation; Professor, Engineering and utilized technology, Northwestern University
"Crisafulli has complete an enormous feat: gleaning the lessons-to-be-learned from the existence so far of Jamie Dimon, a guy of notable expertise, rock-solid philosophy of existence, and boundless power, in addition to taking pictures the essence of the various monetary industry's key personalities, explaining in layman's phrases the monetary tools, atmosphere, and occasions of the final 20 years. She has performed all of it in a fast paced page-turner. The publication illustrates ideas we would all make the most of dwelling via. I want all my company affiliates and scholars learn this book."
—Warren L. Batts, Adjunct Professor of Strategic administration, college of Chicago tuition of industrial; former CEO of Tupperware Corp., Premark overseas, Mead Corp., and Triangle Corp.
"The subtitle of this booklet may perhaps simply be 'How Do you slot All Jamie Dimon's Accomplishments in a single e-book' Jamie is an notion to all who've the privilege of understanding him or operating with him."
—Harvey Mackay, writer of the New York Times no 1 bestseller Swim With the Sharks with no Being Eaten Alive
Jamie Dimon on…
The credits Crisis
“I imagine you’re going to be writing and studying from this for years: circumstances and books approximately various things from SIVs to accounting to the enterprise function of CDO-squareds to regulatory principles to globalization to the balkanization of regulation…. in truth, i feel if you happen to made an inventory this present day, you most likely wouldn’t get 1/2 them. We’re within the thick of it.”
“Experience and judgment—I don’t imagine they’re replaceable. You visit loads of businesses—they don’t take into account how undesirable issues can get. It takes somebody who has been there. we'll always remember the aftermath of the housing bubble, yet forty years from now, think me, anyone goes to fail to remember back somewhere.”
Dealing with the Downside
“Look the place you'll be improper; admit whilst you’re fallacious. To me it’s vital to do this simply because i would like each person to do this, in order that we really make a greater selection the subsequent time.”
Buying endure Stearns
“We weren’t wanting to buy endure Stearns. We wouldn’t have acquired it by itself, yet we have been requested to examine it. We knew the economic system was once tremendous smooth and Lehman [Brothers financial ruin] helped turn out that.”
The endure Stearns Negotiations
“The striking tale wasn’t the monetary engineering. After I obtained the decision from [Bear Stearns CEO] Alan Schwartz, I known as [JPMorgan funding financial institution co-CEOs] Steve Black and invoice Winters, after which we had 50 or a hundred humans dress and are available again to paintings. And via 12 hours later, there have been 500 and 1,000 humans engaged on it in each division: bond buying and selling, fairness, fairness derivatives, these kinds of areas—tax, felony, compliance, structures, ops [operations]—everyone doing their task. And that’s the superb form of factor: humans appearing that way—just attempting to determine it out in a short time. that truly enabled us to do [the endure Stearns deal]. after which the relaxation that once we acquired the corporate shall we truly deal with all that.”
“If you wouldn’t deal with your mom that method, don’t deal with the buyer that manner. If this piece of paper tells the customer how a lot hazard they’re taking and also you don’t are looking to provide it to them, they’re most likely taking over an excessive amount of threat. provide them the paper.”
“You’ve bought to have disciplined reporting and a disciplined evaluation of [what’s] said. after which it’s acquired to be generally shared with shrewdpermanent those that even have event and judgment. you are going to reduce difficulties. You’ll nonetheless have them, incidentally, yet they need to confidently be smaller and fewer.”
“Always have a column known as ‘worst ever’ and confirm you could continue to exist less than that.” [University of Chicago Graduate university of commercial, 2006]
Going to paintings for Sandy Weill
“I went to paintings for Sandy simply because my objective in existence used to be to not be a accomplice in an funding financial institution, and admittedly it wasn’t funds. It was once to construct anything, no matter what that intended… the explanation I went to paintings for Sandy is simply because I beloved him… “ [Kellogg tuition of administration, 2002]
Getting Fired by means of Sandy Weill
“I was once the president of Citigroup. I walked in and [Weill] acknowledged, ‘I wish you to resign,’ and think me, it used to be like i used to be surprised. I didn’t anticipate it whatsoever, form, or form.” [Kellogg tuition of administration, 2002]
Life after Citigroup
“It damage. yet as I inform people…it was once my internet worthy, no longer my self worth, interested by the corporate. I didn’t think much less of anyone, yet out of the blue you do think type of bare available in the market. You don’t do that factor; you aren’t president of…Citigroup.”
“My youngsters, my family—but specially the kids I’m accountable for, even if they’re form of on their lonesome… They’re method up the following. correct subsequent to that's humanity. in truth, we’re no longer all the following only for ourselves.”
Marriage and Children
“I do imagine that the toughest activities in existence are marriage and children. they're like whole secrets and techniques until eventually you do it. We train you every thing, yet we don’t educate you that… You’ve started working [at] these things.” [Kellogg institution of administration, 2002]