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In last yearâ€™s shareholder letter, I referred to the â€śturbulenceâ€ť and â€śunprecedentedâ€ť
nature of events that had taken place during the preceding months. We did not know
when the cycle would end or the extent of the damage it would cause. But we did know
that we had to â€śprepare for a severe economic downturn.â€ť Collectively, we resolved to
navigate through the tough conditions, to help our clients in every way we could and to
show leadership in the industry, as has been our legacy during times of crisis.
It is now a year later. What transpired was largely unprecedented and virtually
Our firm tried to meet every challenge, and, in the process, we distinguished
ourselves in our service to clients and communities. Although our financial results
were weak in absolute terms (but fairly good in relative terms), reflecting terrible
market conditions, I believeâ€”and I hope you agreeâ€”that this year may have been one
of our finest.
Keywords; Jamie Dimon,Shareholders,Financ ial,Business Results,Investment Bank