The more Jamie Dimon is worried, the better his bank seems to be.

As JPMorgan Chase In recent years, its star CEO has been increasingly speaking about the U.S. economy, and has become increasingly important to the U.S. economy, and has become more and more vocal about what might be wrong - and everything is constantly developing on his banking behavior.

At its best and worst, Dimon's open prospects become grim.

Whether it is his 2022 forecast of a “hurricane” hit the U.S. economy, his concerns about the wear and tear of the world order after World War II, or his cautious attitude towards the United States, Dion seems to bring one and two recessions and inflation, Dion seems to bring every piece of income, television coverage and investor activity, with another serious warning.

“His track record of leading the bank is incredible,” he said through his company’s strategic value banking partner Ben Mackovak. “He made economics-ancient sexual predictions with poor records.”

In his two decades, Dimon's JPMorgan, 69, helped build a financial institution with what the world has seen.

Dimon's bank is huge in both the Main Street Banking and Wall Street high finance, and in his own words, it is a final champion. It has more branches, deposits and online users than any peer, and is a leading credit card and small business franchise. It has the highest market share in both trading and investment banking, with over $10 trillion in global payment fees per day.

A review of Dimon's 20 Years of Investor of the Year and its public statements shows a clear evolution. He became CEO in 2006, and his first decade as JPMorgan was consumed by the U.S. housing bubble, the 2008 financial crisis and its long consequences, including the acquisition of two failed rivals, Bear Stearns and Washington Mutual.

However, as he began his second decade leading JPMorgan, just as the legal hangover of the mortgage crisis began to fade, Dimon began to see new storms.

“Another crisis will happen,” he wrote in an April 2015 CEO letter. He pondered the potential trigger and pointed out that the recent circumference in U.S. debt is a "warning shot" for the market.

The passage marks the beginning of Dimon's more frequent financial warnings, including concerns about a recession (which didn't trigger a two-month contraction until the 2020 pandemic), and concerns about market collapse and surge in the U.S. deficit.

But it also marks a decade when JPMorgan's performance began to beat rivals. After bringing about $20 billion in annual profits per year in a few years, the huge machine Dimon responsible for is starting to really stride forward.

JPMorgan made six record annual profits from 2015 to 2024, twice as high as Dimon's first CEO. JPMorgan Chase is now the world's most valuable listed financial company, spending $18 billion a year on technologies including artificial intelligence to keep this way.

Although Dimon seems to be forever worried about the rise in economic and geopolitical unrest, the U.S. economy continues to work hard. This means unemployment and consumer spending are more resilient than expected, allowing JPMorgan to raise record profits.

In 2022, Dimon told a professional investor to prepare for an economic storm: “Now, it’s sunny and it’s good, and everyone thinks the Fed can handle that,” Dimon said, referring to the Fed that manages the pandemic economy.

"That hurricane was there and walked our way," he said.

"This is probably the most dangerous time in decades in the world," Dimon said in a profit release.

But investors who listened to Dimon and made their portfolio more conservative will miss the best two-year runner S&P 500 For decades.

“It’s an interesting contradiction without a doubt,” McOvack said of Dimon’s mean remarks and his bank’s performance.

"Part of that could be Jamie Dimon's branding," the investor said. "Or there is a win-win narrative, if anything happens, you can say, 'Oh, I call it,' If not, then your bank is still working on it."

Bankers know that broadcasting caution is wiser than optimism, according to the former president of the top five U.S. financial institutions. The previous one Citigroup For example, CEO Chuck Prince is known for his bad luck in 2007.

"Someone knows that if you're too optimistic and things go wrong, there are a lot of shortcomings in your reputation," the former executive said. "It's doing damage to your bank, you look stupid, and instead, you look like a very cautious, thoughtful banker."

Banking is ultimately a business with calculated risks and its CEO must make it unfavorable to prevent them from repaying their loans, said Mike Mayo, a banking analyst at Wells Fargo.

"It's an old cliché, a good banker holding an umbrella when the sun shines; they're always looking around the corner, always realizing what might be wrong," Mayo said.

But other long-term Diamond Watchers saw something else.

According to Charles Peabody, an analyst at Portales Partners, Dimon has "ulterior motives" for public comment.

“I think this kind of rhetoric is about keeping his management team focused on future risks, whether they happen or not,” Peabody said. “With high-performance, high-growth franchise, he’s trying to stop them from becoming complacent, so I think he’s deeply rooted in their culture, a constant war room-like atmosphere.”

Although his bank made a record $58.5 billion in profit last year, Dimon has no shortage of things to worry about. The conflict between Ukraine and Gaza swept, the development of U.S. national debt, and President Donald Trump's trade policy continues to shake opponents and allies.

"It's fair to see that he's not omniscient, nor is everything he says is realizing," said Truist Bank analyst Brian Foran. "From one perspective, he needs to prepare for X, not that we believe X will happen."

Foran noted that JPMorgan Chase’s interest rates were higher than most peers, when interest rates soared and punished those holding low-yield long-term bonds.

"For years, he said 'prepare for 5% 10 years, and we all thought he was crazy because it was about 1% at the time," Foun said. "It turns out that preparation is not a bad thing."

Perhaps the best explanation for Dimon's Dour prospect is that financial companies will become vulnerable no matter how big and powerful JPMorgan is. Financial history is one of the rise and fall of institutions, sometimes when managers become complacent or greedy.

In fact, the cemetery of the bank logo no longer used includes three – Bell Stearns, Washington Mutual Aid and the First Republic – included by JPMorgan.

During this month’s Bank Investors Day meeting, Dimon noted that JPMorgan Chase has been one of the only companies to earn more than 17% of annual revenues over the past decade.

"If you go back to the previous 10 years, OK, a lot of people earn more than 17%," Dimon said. "Almost everyone is going bankrupt. Did you hear what I just said?

"Almost every major financial company in the world hasn't done that," he said. "It's a tough world."