No More Foot Shooting
Nevertheless, Dimon expressed optimism about JPMorgan's operating environment, particularly in the U.S. and among its investment banking businesses.
"I think investment banking could be stronger than many people think in 2014," Dimon said of the firm's advisory and underwriting businesses. He cited an expectation of 3% gross domestic product growth in 2014, and long-term economic growth trends in emerging markets in Asia and Latin America.
Dimon also said a budget deal brokered by Rep. Paul Ryan (R., Wisc.) and Sen. Patty Murray (D., Wash.) could resolve political uncertainty, which has cast a pall over an incipient U.S. economic recovering in recent years."I think this budget deal is a big deal," Dimon said. He added that he planned to send Ryan and Murray an email that said: "Thank you, thank you, thank you and God bless you." -- Written by Antoine Gara in New York. Follow @antoinegara
Select the service that is right for you!COMPARE ALL SERVICES
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
- Weekly roundups
Access the tool that DOMINATES the Russell 2000 and the S&P 500.
- Buy, hold, or sell recommendations for over 4,300 stocks
- Unlimited research reports on your favorite stocks
- A custom stock screener
- Upgrade/downgrade alerts
- Diversified model portfolio of dividend stocks
- Alerts when market news affect the portfolio
- Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
- Real Money + Doug Kass Plus 15 more Wall Street Pros
- Intraday commentary & news
- Ultra-actionable trading ideas
- 100+ monthly options trading ideas
- Actionable options commentary & news
- Real-time trading community
- Options TV