Jamie Dimon says central banks got forecasts ‘100% dead wrong’ — and it doesn’t matter if Fed hikes rates againThis may be the ‘most dangerous time’ in ‘decades’ warns JPMorgan CEOJPMorgan Chase boss Jamie Dimon is reportedly planning to sell $141 million worth of his shares in the Wall Street behemoth — the first time he’s trimming his personal stake in JPMorgan since he took the CEO position in 2005.
Dimon “continues to believe the company’s prospects are very strong and his stake in the company will remain very significant,” JPMorgan told The Post.The planned transaction will be subject to the terms of Rule 10b5-1 of the Securities and Exchange Act of 1934, JPMorgan told The Post, which requires insiders to sell company stock by setting up a predetermined plan that specifies a transaction date and the amount of stock to be sold.
Take early 2009, for example, when Dimon bought 500,000 shares of the bank during a stock slump. He made an identical move in 2016, spending a total of about $38 million on the two transactions, according to Bloomberg.