This man watched Wall Street burn in 2008. While others begged for...
Kintsugi Investing@kintsugiinvest
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Sep 12, 2025
~2 min read
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This man watched Wall Street burn in 2008.
While others begged for bailouts, he bought banks cheap.
Survived throat cancer in 2014.
Outlasted rivals, outplayed politicians, and beat the market.
9 "fortress principles" behind Jamie Dimon’s empire:🧵
While others begged for bailouts, he bought banks cheap.
Survived throat cancer in 2014.
Outlasted rivals, outplayed politicians, and beat the market.
9 "fortress principles" behind Jamie Dimon’s empire:🧵
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1. Build to survive, not to impress
Dimon doesn't chase quarterly optics. He builds for durability.
While others optimized for returns, he fortified JPMorgan’s balance sheet.
When the storm hit, his was the last bank standing.
Dimon doesn't chase quarterly optics. He builds for durability.
While others optimized for returns, he fortified JPMorgan’s balance sheet.
When the storm hit, his was the last bank standing.
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2. Risk is always cyclical
Complacency rises in bull markets.
Dimon kept warning about excessive leverage and froth as early as 2006.
He tightened underwriting, trimmed exposure, and quietly got liquid.
Complacency rises in bull markets.
Dimon kept warning about excessive leverage and froth as early as 2006.
He tightened underwriting, trimmed exposure, and quietly got liquid.
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3. Liquidity is power
Crises reward those with cash.
While peers were overleveraged, Dimon had the capital to move.
He used it to acquire Bear Stearns, Washington Mutual, and later First Republic—at steep discounts.
Crises reward those with cash.
While peers were overleveraged, Dimon had the capital to move.
He used it to acquire Bear Stearns, Washington Mutual, and later First Republic—at steep discounts.
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4. Discipline beats genius
Dimon doesn't rely on predictions. He operates within a risk framework that works in all environments.
He avoids complexity, limits exposure, and respects downside at all times.
Dimon doesn't rely on predictions. He operates within a risk framework that works in all environments.
He avoids complexity, limits exposure, and respects downside at all times.
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5. Own the downside
Every decision is stress-tested.
If it goes wrong, how bad can it get? Can the bank survive?
If the answer is no, he doesn't do it.
Survival is the baseline. Growth comes after.
Every decision is stress-tested.
If it goes wrong, how bad can it get? Can the bank survive?
If the answer is no, he doesn't do it.
Survival is the baseline. Growth comes after.
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6. Speak hard truths early
Dimon regularly calls out systemic risks before they explode.
He warned about inflation, debt ceilings, and liquidity fragility well before they hit headlines.
Credibility compounds. Silence costs.
Dimon regularly calls out systemic risks before they explode.
He warned about inflation, debt ceilings, and liquidity fragility well before they hit headlines.
Credibility compounds. Silence costs.
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7. Prepare like it’s your job
Before 2008, Dimon ran internal disaster scenarios that mirrored what eventually happened.
His teams were ready because he made preparation non-negotiable.
Fortress thinking is proactive, not reactive.
Before 2008, Dimon ran internal disaster scenarios that mirrored what eventually happened.
His teams were ready because he made preparation non-negotiable.
Fortress thinking is proactive, not reactive.
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8. Reputation is capital
Dimon maintained trust with clients, regulators, and the public.
That trust gave JPMorgan flexibility in times when others were constrained.
Reputation widens your options when options shrink.
Dimon maintained trust with clients, regulators, and the public.
That trust gave JPMorgan flexibility in times when others were constrained.
Reputation widens your options when options shrink.
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9. Lead when it matters most
In calm times, Dimon delegates. In chaos, he leads from the front.
He worked deals over weekends. He answered tough questions on live TV.
In crisis, clarity matters. Dimon always provides it.
In calm times, Dimon delegates. In chaos, he leads from the front.
He worked deals over weekends. He answered tough questions on live TV.
In crisis, clarity matters. Dimon always provides it.
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Most investors chase returns. Dimon chased durability.
We break down how resilient thinkers like him build wealth across decades.
Get to-the-point investing insights every week:
kintsugiinvesting.substack.com
We break down how resilient thinkers like him build wealth across decades.
Get to-the-point investing insights every week:
kintsugiinvesting.substack.com