We thought it would cause a bubble. The bubble is just bigger than we thought.
More Quotes from James Dimon:
The hope was that it would reduce volatility, but this quarter it added to it. We lost money as opposed to making money on it.James Dimon
Bill Harrison has been a great partner through this transition, and I look forward to his support and counsel in the future. I am very excited about the opportunity to lead this great institution.
James Dimon
Yes, we are disappointed in the volatility. The management team understands that one of our goals is to reduce that.
James Dimon
Over time, you'll probably see value at risk go up. Hopefully, we'll do it intelligently and we'll get paid for it.
James Dimon
Several of our trading books were on the wrong side of interest rates. It was a bunch of positions that didn't work out.
James Dimon
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