/biz/ - Business & Finance

[Anonymous No.58458417]

>JPMorgan CEO publicly called his own daughter a retard for buying bitcoin below $10k
>then FOMOs in above $50k

How can someone so smart be so dumb? Why did he not understand that people all over the world were desperate for a safe haven from reckless monetary policy?

[Anonymous No.58458419]

What makes you think he's smart? He's a CEO? Do you think all doctors are intelligent? Do you frequently find yourself appealing to authority in your daily decisionmaking?

[Anonymous No.58458432]

>>58458419
He went from being a nobody to buying up a terrible regional bank and turning it into a behemoth on Wall Street. After Citi bought that bank, he was largely responsible for turning CitiGroup into the biggest bank in America. Then he quit, bought another shitty bank, turned it into a behemoth once again, was acquired by JPMorgan and offered the role as CEO. Because he didnt fuck around with MBS before the 08 financial crisis, he was in a position to buy up other banks for pennies on the dollar. And that way he turned JPMorgan into the largest bank in the world by far, which continues to gobble up regional banks every now and then. He’s the only wall street CEO who survived the GFC.

Building the largest bank in America once could be luck. Doing it twice? That’s intelligence

[Anonymous No.58458437]

typical

[Anonymous No.58458442]

>>58458432
>He went from being a nobody to
>Because he didnt fuck around with MBS before the 08 financial crisis, he was in a position to buy up other banks for pennies on the dollar
So he's not smart, he's lucky. Not everyone who wins the lottery is smart

[Seanonymous No.58458484]

I think partially it's also harder the older you get to accept there might be new ways that are way easier than what you had to do get where you are, and that you don't have much time to benefit and your old plans have almost fully blossomed anyway

[Anonymous No.58458488]

>>58458419
lmao what crawled up your ass?

[Anonymous No.58458503]

People assume his opinion he spouted was honest. Imagine thinking that from a head of a Jew bank.

[GONGO No.58458531]

>>58458442
luck is a skill. git gud faggot

[Anonymous No.58458534]

>>58458417
he's lying to make more money triple retard

[Anonymous No.58458549]

>>58458417
They’re not smart all these guys would be dead poor ir in jail
If the government didn’t bail them out every few years

[Anonymous No.58458619]

>>58458419
>comparing doctors to a guy who climbed his way to the top of the most cutthroat industry on the planet and managed to stay at the top for 20 years
Based retard

[Anonymous No.58458623]

>>58458619
Doctors literally cut throats, anon

[Anonymous No.58458639]

[Anonymous No.58458646]

>>58458619
> cutthroat industry
> Mostly they just fuck children to appease Moloch

[Anonymous No.58458651]

All of the regards hating on him are missing the point:

If you’re a normal or poor dude making fun of a rich guy, the joke isn’t on him. It’s on you. Broke ass idiot

[Anonymous No.58458655]

>>58458651
It’s definitely poorfag cope. Dimon is an unlikable and arguably an evil person but calling him dumb or lucky when he managed to cement his position as the most powerful banker in the world for 20 years while most other IB CEOs have a very limited shelf life, is pure cope and low IQ

[Anonymous No.58458659]

>>58458549
Isn't it smart in a way to exploit that?
But yeah, in regards to BTC many of these figures were dumb for a long while.

[Anonymous No.58458660]

>>58458549
>investment banks arent smart, they would be dead if they hadn’t built a very sophisticated safety net that will always ensure the top dogs survival and is made up of taxpayers money, so that they can push risk and maximize profits without ever worrying about bankruptcy because they will just pass the cost onto you
Where are you dumbasses even coming from? Back to plebbit or wherever the fuck you came from

[Anonymous No.58458669]

Bitcoin goes against and threatens everything Dimon believes in. He hates it for the same reason that central bankers hate it. The very reason Satoshi created Bitcoin was to give people protection from the central banks and investment banks destructive effects to fiat currencies and our purchasing power. Of course Dimon understands the potential it has, but for years he had no choice but to claim that it’s a useless turd in the hopes that it was a fad that would disappear on its own. If he gave it legitimacy, he would be undermining the power that JPMorgan has. But now we’re getting to a point where UHNW clients that JPMorgan dont want to lose, are asking for exposure to Bitcoin ETFs. And while Dimon probably fucking hates it, he has no choice but to bend the knee and do what the important clients ask of him so they don’t take their business elsewhere

[Anonymous No.58458710]

>>58458655
Agreed. These ppl saying BTC is the way common people will get wealthy while at the same time, large companies and corporations are buying up millions of BTC so often now. Wealth is quite literally being transferred to the wealthy. And there’s a finite supply, yes? So only few people from the new era will become wealthy, the already wealthy will become wealthier and the poor scrubs down here will fight over “alt coins” or the next big thing. Feel free to correct me on anything I’m not a big btc guy

[Anonymous No.58458847]

>>58458710
The days of 100x’ing your money are long gone. But bitcoin continues to serve its function as a safe haven from excessive moneyprinting, which central banks all over the world keep doing at an increasing rate. Gold also exists for that, but physical gold is impractical for most people. Especially if you have 6-7 figs that you want to keep safe from the currency destroyers. Good luck crossing a border with 7 figs in gold. And unlike gold, Bitcoin still has ways to go before discovering where its true value lies relative to gold, and it begins trading like a low volatility, boring inflation hedge like gold. Most people predict parity or half of golds market cap, which would be between a 7-15x from where it is now. But it will likely take many more years to get there. Adoption is a slow curve.

And yes, nobody is getting wealthy with bitcoin unless they already are wealthy. That’s why all the poorfags are gambling with memecoins

[Anonymous No.58458888]

>>58458417
Bitcoin is the antithesis of fractional reserve banking. What do you expect him to say? Ofc he was going to resist Bitcoin as long as possible. His shifting position comes from reluctant capitulation which he likely knew would have to happen eventually

[Anonymous No.58458916]

>>58458888
This, except the capitulation part. Because it wont die, they are at the stage where they will try to gain as much control of it as they can. Which is why regulators and legislators in US and EU are both currently launching an attack on self-custody. Oh, you want to hold bitcoin? To be compliant, a bank or regulated financial institution will have to custody it for you. Their justification will be keeping investors safe, but it’s all about control

[Anonymous No.58459097]

>>58458417
>FOMOs in above $50k
Dude bets on sure things and wins at scale.

[Anonymous No.58459200]

>>58458916
>except the capitulation part
he's buying it now, isn't he? that's capitulation from his previous position

[Anonymous No.58459225]

she probably sold the bottom and then the regulatory clarity and etf gave him the confidence to buy

[Anonymous No.58459722]

>>58458847
No harm in spot buying a bit of BTC. only reason BTC etfs are coming into existence is because rich clients of large firms want exposure to it.

[Anonymous No.58459724]

>>58458417
Jamie Dimon was right.
Bitcoin is garbage.

[Anonymous No.58460100]

isnt that the guy that called for 7.5% interest rate top in december 23, after the November pivot

[Anonymous No.58461050]

>>58458417
Kek, who's the retard now? Same way Anons clown on me for snagging DUA and NXRA, then they will FOMO when prices soar.

[Anonymous No.58461062]

>>58458503
That's why I ain't trusting banks with my stacks. Rather grab RWA gems, stash 'em in my Brillion smart wallet, than feed those fat cats.

[Anonymous No.58463385]

>>58458417
>connect metamask to flur.ai's dapp
>set up parameter to always monitor jpmorgan related news and tweets
>secure profits each time any of those old bastards open their mouths
>i have now sucessfully built an old man crypto farm
Thanks JPMorgan, i tip my hat to you all