You cannot prove this in real time, but when economists 20 years from now write a book on the recovery, it may well be entitled, It could have been much better.
Jamie DimonNo one has the right to not assume that the business cycle will turn! Every five years or so, you have got to assume that something bad will happen.
Jamie DimonI hate the word universal, because I don't know exactly what it means. The question is, does it work for the client? Travelers was a diversified, financial conglomerate that did very well. The businesses had nothing to do with each other.
Jamie Dimon