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Jamie Dimon Sells 1 Million Stock Shares of Chase: What Does It Mean? · Earn Your Leisure

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  Speaker 3: So Jamie Dimonds so one million shares of JP Morgan
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  Speaker 3: shares worth of one hundred and forty one billion million dollars.
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  Speaker 3: Should this be a concern for the entire banking sector
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  Speaker 3: or the stock of JP Morgan, or is this something
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  Speaker 3: that's just regular, nothing to really be too concerned about.
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  Speaker 4: For me, I have to say shout out to everyone
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  Speaker 4: at JP Morgan, love you dearly. No need to have
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  Speaker 4: a meeting about this, But I do believe he's definitely
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  Speaker 4: earned this. He's probably the best CEO in that space.
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  Speaker 4: But that if you look at that golden parachute number
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  Speaker 4: that we keep talking about, if he's going to cash
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  Speaker 4: out relatively soon, maybe he'll retire in five years. I
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  Speaker 4: don't know who succeeds him at JP Morgan, And when
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  Speaker 4: I look at the overall landscape, I don't see any
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  Speaker 4: other great banking executives. At one point, financial services and
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  Speaker 4: banking had a ton of amazing CEOs. I think Brian
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  Speaker 4: Wannihan is good, but I think he isn't as great
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  Speaker 4: as Jamie. I couldn't tell you five out the CEOs
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  Speaker 4: that are incredible, So it's kind of like the end
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  Speaker 4: of the era. This will make me a lot more
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  Speaker 4: concern in the banking industry overall. Of course, he's earned it.
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  Speaker 4: I think he's been the best of breed when it
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  Speaker 4: comes to banking. But when the best player leaves and
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  Speaker 4: you don't have a Steph Curry of banking a zion.
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  Speaker 5: It's tough.
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  Speaker 4: Meanwhile, all of the smaller banks have been collapsing and
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  Speaker 4: been acquired. I think he is exiting at the right
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  Speaker 4: time when the world is in turmoil. But please keep
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  Speaker 4: your eye on how many CEOs are leaving or taking
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  Speaker 4: grand compensation packages at this time.
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  Speaker 5: I would definitely be concerned.
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  Speaker 6: This feels like twenty twenty one when we were talking
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  Speaker 6: about CEO selling shares of that company. We saw Yea
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  Speaker 6: and we saw Tim Cook do it, and we saw
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  Speaker 6: what relatively would happened six months after when there was
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  Speaker 6: a pullback in tech.
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  Speaker 2: I think the timing of it that makes sense for him.
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  Speaker 2: I would.
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  Speaker 6: I'm not sure if I'm too concerned with JP stock
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  Speaker 6: in a sense that last quota. You know, they reported
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  Speaker 6: an increased in thirty five percent, and you just brought
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  Speaker 6: up the Boks, you broughtup the small banks closing, but
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  Speaker 6: guess who was acquiring their customers? Yeah, and so I didn't.
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  Speaker 6: I don't take too much concern with it. If you
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  Speaker 6: look over the history. He took over in two thousand
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  Speaker 6: and six, so for about eighteen years. This is the
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  Speaker 6: first time ever that he's ever sold stock, and so
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  Speaker 6: that might sound like something that's alarming, but when you
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  Speaker 6: look at the history, you can actually and this is
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  Speaker 6: and who has how many shares? His family owns almost
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  Speaker 6: nine million shares, but even if they stole a million shares,
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  Speaker 6: you still got eight million shares. You're well vested inside
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  Speaker 6: of the company. So I'm not sure that what it
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  Speaker 6: means to JP stock, what it means for the overall
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  Speaker 6: banking sector, it's cause for concern. We'll see if there's
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  Speaker 6: more to see more CEOs who follow that trend of
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  Speaker 6: selling shares, because, like I said, we've seen this happen
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  Speaker 6: in twenty twenty one inside of the text space financial
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  Speaker 6: services and banking. If we start seeing that trend, that
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  Speaker 6: proper belie gives us a sign that there's going to
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  Speaker 6: be some turmoil, maybe some downturn in that sector.
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  Speaker 2: So I would watch it for that standpoint.
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  Speaker 5: Yeah, I agree.
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  Speaker 4: In the hands down number one bank, I think he's
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  Speaker 4: the number one executive in banking.
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  Speaker 5: The stock could be fine.
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  Speaker 4: I am worried about the overall banking sector though, especially
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  Speaker 4: with inflation going up and there's no amazing leadership. Even
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  Speaker 4: if we ask everyone in the audience, tonight made me
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  Speaker 4: five other incredible banking CEOs.
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  Speaker 5: It's going to be tough. It's going to be very tough.
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  Speaker 4: So but he definitely deserves us if anyone deserves this
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  Speaker 4: compensation him and you can argue he's underpaid.
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  Speaker 6: Yeah, look at the numbers. The stats are on the
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  Speaker 6: board right, if we look at just the numbers. When
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  Speaker 6: he took over in two thousand and six, JP Morgan
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  Speaker 6: was managing nearly a trillion dollarsand assets, they are now managing.
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  Speaker 2: Three point two trillion.
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  Speaker 6: You tripled the amount of money that is being managed
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  Speaker 6: market and the market cap is now over four hundred
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  Speaker 6: and ten billion, So we're talking about the overall number
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  Speaker 6: of how much your manager and what the companies net worth.
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  Speaker 2: He's done a tremendous job.
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  Speaker 6: And if you've watched the financial sector since two thousand
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  Speaker 6: and six, especially during that time of the real estate
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  Speaker 6: crash and how the banks were collapsing, the role that
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  Speaker 6: he played in it, you're right he might be one of.
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  Speaker 2: Those CEOs that is under big.
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  Speaker 6: Absolutely if you look at what he's done for the
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  Speaker 6: bank and we're talking about since two thousand and six
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  Speaker 6: to two thousand and eight, especially when the housing market
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  Speaker 6: crash and the banks were crashing. This guy was the
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  Speaker 6: one who came up with solution, right when he got
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  Speaker 6: everybody in the room and said, you're the person that
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  Speaker 6: can help us get out of this, and he did.
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  Speaker 6: I mean, you talk about somebody being underpaid in the space,
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  Speaker 6: he probably is the person.
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  Speaker 2: If we're talking about all CEOs.
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  Speaker 6: Especially in the banking sector, but just over the overall market,
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  Speaker 6: he's probably one of the most important CEOs in the
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  Speaker 6: US economy.
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  Speaker 4: No, I agree one thousand percent, especially at the time
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  Speaker 4: when banks were not trusted, being vilified left and right,
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  Speaker 4: he kind of brought a little bit of peace in
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  Speaker 4: that space, so we don't have the same concerns about
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  Speaker 4: thinking that we did in our seven or eight oh nine.
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  Speaker 4: He has to get a lot of credit for the