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So Jamie Diamond sold 1 million shares of JP Morgan shares worth of$ 141 billion million um should this be a concern for the entire banking sector or the stock of JP Morgan or is this something that's just regular nothing to really be too concerned about um for me I have to say um shout out to everyone at JP Morgan love you dearly uh no need to have a meeting about this but I do believe he's definitely earned this he's probably the best CEO in that space but that if you look at that golden parachute number that we keep talking about if he's going to cash out relatively soon maybe he'll retire in five years I don't know who succeeds him at JP Morgan and when I look at the overall landscape I don't see any other great banking Executives at one point financial services and banking had a ton of amazing CEOs I think Brian Mahan is good but I think he isn't as great as Jamie I couldn't tell you five other CEOs that are incredible so it's kind of like the end of a era um this will make me a lot more concerned in the banking industry overall of course he's earned it I think he's been the best of breed when it comes to banking but when the best player leaves and you don't have a Steph Curry of banking a Zion it's tough meanwhile all of the smaller banks have been collapsing and been acquired I think he is exiting at the right time when the world is in turmoil but please keep your eye on how many CEOs are leaving or taking Grand compensation packages at this time I would definitely be concerned this this feels like 20121 when we were talking about CEO selling shares of their company we saw Elon do it we saw Tim cuck do it and we saw what relatively what happened 6 months after when there was a pullback in Tech I think the timing of it uh makes sense for him I I would I'm not I'm not sure if I'm too concerned with uh JP's stock in the sense that last quarter you know they reported an increase in 35% and you just brought up yeah you brought up the small Banks closing but guess who was acquiring their customers Y and so I I I didn't I don't take too much concern with it if you look over the history he took over in 2006 so for about 18 years this is the first time ever that he's ever sold stock and so that might sound like something that's alarming but when you look at the history you can actually this is why doing the research is important when you go to the analytics and you look about look at the company and who has how many shares his family owns almost nine million shares yeah so even if they sold a million shares you still got eight million shares you're well vested in inside of the company so I'm not sure that what it means to JP stock uh what it means for the overall Bing sector it's cause for a concern we we'll see if there's more more CEOs who follow that trend of selling shares because like I said we've seen this happen in 2021 inside of the Tex based financial services and banking uh if we start seeing that Trend that probably gives us a sign that there's going to be some turmoil maybe some downturn in that sector so I would watch it for that standpoint yeah I agree and the hands down Number One bank I think he's the number one executive in banking um the stock could be fine I am worried about the overall banking sector though especially with inflation going up and there's no amazing leadership even if we ask everyone in the audience tonight name me five other incredible banking CEOs it's going to be tough it's going to be very tough so um but he definitely deserves this if anyone deserves this compensation it's him and you can argue he's underpaid yeah look at the numbers the stats are on the board right if we look at just the numbers when he took over in 2006 uh JP Morgan was uh managing nearly a trillion dollars in assets they are now managing 3.2 trillion you triple the amount of money that is being managed market and the market cap is now over 410 uh billion so we're talking about the overall number of how much he managing and what the the company's now worth he's done a tremendous job and if you if you watched the financial sector since 2006 especially during that that time of of uh the real estate crash and how the banks were collapsing the role that he played in it you're right he he might be one of those CEOs that is underp absolutely if look at what he's done for the bank and we're talking about since 2006 to 2008 especially when the housing market crashed and the banks were crashing this guy was the one who came up with solution right when you got everybody in the room and said you're the person that can help us get out of this and he he did I mean you talk about somebody being underpaid in the space he probably is the person if we're talking about all CEOs especially in the banking sector but just over the overall Market he's probably one of the most important CEOs in the US economy no I agree a th% especially at a time when Banks were not trusted being vilified left and right he kind of brought a little bit of Peace in that space well we don't have the same concerns about banking that we did in 070809 he has to get a lot of credit uh for that
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