Banking Quote by Jamie Dimon
“You don't run a business hoping you don't have a recession.”
About This Quote
Source Speech: Annual Shareholder Meeting, JPMorgan Chase, 2023
Business leaders must anticipate economic downturns rather than assume they won't occur.
In simple terms: Plan for recessions.
Key Takeaway
Prepare for economic cycles.
Themes
business
economics
risk management
Mood
cautious
pragmatic
Type
advisory
strategic
When to use this quote
- budgeting
- investment decisions
- staffing
- pricing strategy
Key Concepts
forecasting
contingency planning
strategic resilience
Questions to Reflect On
- How do you incorporate recession scenarios into planning?
- What indicators signal an upcoming downturn?
A Different Perspective
Ignoring recession risk can lead to unpreparedness and loss.
![“I think if we had another set of policies for - not the crisis years, but after that, that we might be growing faster. But we didn't. And some of that was Republicans' [fault], by the way.” quote by Jamie Dimon](https://sms4smile.com/quotes/img-quotes/c6a/jamie-dimon-1320_crisis_i-think-if-we-had-another-set-of-policie_34817.jpg)
![“Not every company went bankrupt. Not every bank needed TARP [Troubled Asset Relief Program]. So I'm very proud that JPMorgan, throughout that time period, was completely steadfast. We bought Bear Stearns because we thought we were helping the situation. We didn't cut and run.” quote by Jamie Dimon](https://sms4smile.com/quotes/img-quotes/04a/jamie-dimon-1320_assets_not-every-company-went-bankrupt-not-ever_128310.jpg)
