Dimon is the CEO of JP Morgan. He's simply a brilliant business man and, I'll admit, a Democrat.
Trump tried to persuade him to become Treasury Secretary but Dimon turned him down. The country's loss.
Here is an excerpt from an interview yesterday or today, not sure:
JPMorgan Chase (JPM) CEO Jamie Dimon sounded upbeat on the US economy in his bank’s fourth quarter earnings announcement.
“The U.S. economy may be building momentum,” Dimon said in a statement. “Looking ahead there is opportunity for good, rational and thoughtful policy decisions to be implemented, which would spur growth, create jobs for Americans across the income spectrum and help communities, and we are well-positioned to play our part. Business plays a critical positive role in society, and in collaboration with nonprofits, governments and educational institutions, it can help strengthen our economy and our country.”
Dimon is obviously referring to the incoming Trump administration, which has repeatedly promised aggressive tax cuts and deregulation among other things.
I still believe that stocks will run on the news of tax cuts for individuals and businesses, reductions in onerous regulations including Dodd-Frank, repatriation of overseas profits and a restoration of our energy revolution in our attempt to become energy independent.
Best sectors continue to be Financials (assuming interest rate rises), Health Care, Energy, Technology. Industrials have already run up in expectation of Trump's infrastructure spend. May have room to run, but not as much. Emerging markets is also a good place for big returns.
Trump tried to persuade him to become Treasury Secretary but Dimon turned him down. The country's loss.
Here is an excerpt from an interview yesterday or today, not sure:
JPMorgan Chase (JPM) CEO Jamie Dimon sounded upbeat on the US economy in his bank’s fourth quarter earnings announcement.
“The U.S. economy may be building momentum,” Dimon said in a statement. “Looking ahead there is opportunity for good, rational and thoughtful policy decisions to be implemented, which would spur growth, create jobs for Americans across the income spectrum and help communities, and we are well-positioned to play our part. Business plays a critical positive role in society, and in collaboration with nonprofits, governments and educational institutions, it can help strengthen our economy and our country.”
Dimon is obviously referring to the incoming Trump administration, which has repeatedly promised aggressive tax cuts and deregulation among other things.
I still believe that stocks will run on the news of tax cuts for individuals and businesses, reductions in onerous regulations including Dodd-Frank, repatriation of overseas profits and a restoration of our energy revolution in our attempt to become energy independent.
Best sectors continue to be Financials (assuming interest rate rises), Health Care, Energy, Technology. Industrials have already run up in expectation of Trump's infrastructure spend. May have room to run, but not as much. Emerging markets is also a good place for big returns.