Why JPMorgan's Rising Stock Defies Traditional Valuations And Jamie Dimon's Own Advice

It's the best of times for Jamie Dimon. JPMorgan's stock has lapped the S&P 500 Index this year. (Photo by Mark Wilson/Getty Images)Getty Images“I want to make it really clear, OK? We’re not going to buy back a lot of stock at these prices,” said billionaire JPMorgan Chase CEO Jamie Dimon during the bank’s annual meeting in May of 2024. “Buying back stock of a financial company greatly in excess of two times tangible book is a mistake. We aren’t going to do it.”At the time, JPMorgan’s shares traded at 2.4 t ...