The prez should pull up a stock chart on JPMorgan Chase (JPM) .
As widely expected, President Trump swung back today at JPMorgan Chase (JPM) CEO Jamie Dimon's comments Wednesday that he could unseat the president in a race. "The problem with banker Jamie Dimon running for President is that he doesn't have the aptitude or "smarts" & is a poor public speaker & nervous mess - otherwise he is wonderful. I've made a lot of bankers, and others, look much smarter than they are with my great economic policy!," Trump tweeted.
"I think I could beat Trump" in an election, Dimon said at an event meant to celebrate the bank's philanthropy. "I'm as tough as he is, I'm smarter than he is." Dimon backed away from the comments Wednesday afternoon following a backlash on social media.
While Trump could question Dimon's public speaking skills, saying he lacks the aptitude or smarts to be president is off the mark. Dimon is credited with steering the global bank successfully through the Great Recession. Dimon is one of the most plugged in CEOs in the world, sought after for his views on business by world leaders to celebs.
JPMorgan's shareholders have been rewarded for the CEO's smarts. Shares of JPMorgan have surged about 182% since Dimon took over as CEO on Dec. 31, 2005. The stock has outperformed rival banks Goldman Sachs (GS) (+61%), Bank of America (BAC) (-31%), Wells Fargo (WFC) (+79%), and Morgan Stanley (MS) (-22%).
If the stock market is the ultimate measure of a CEO's success, then Dimon indeed has had the smarts.
JPMorgan Chase is a holding in Jim Cramer's Action Alerts PLUS.