Jamie Dimon, the chairman, president and CEO of JPMorgan Chase, is a major fan of information technology. He's legendary in IT circles for describing Chase as a tech company specializing in financial services.
More recently, he warned that Silicon Valley is trying to upend the status quo by launching a wave of fintech startups to compete with traditional banks. He's vowed to compete with Silicon Valley and to assemble the resources necessary for creating a new generation of customer-centric banking technologies.
Now he's giving Warren Buffett a run for his money, as growing numbers of investors and analysts parse his annual shareholder letters in hopes of finding clues to the "next big thing" in our ultra-competitive global economy.
"Dimon is, perhaps, less cuddly than (Buffett) ... and Dimon's shareholder meetings aren't a weekend-long extravaganza highlighted by Dairy Queen," writes Tim Mullaney in article for CNBC.com. "But, like Buffett, Dimon uses his often quite long annual shareholder letters to muse about the best way to manage companies ..."
As Mullaney notes, Dimon's shareholder letters are actually great sources of advice for business leaders and executives. I'd like to share some of the highlights that Mullaney captures from Dimon's letters:
- Be honest about risks facing your business and how you're preparing.
- Lobby the government, but don't complain about it.
- Don't pin your hopes on deals.
- Be contrarian.
- Focus on profitability and value, not stock price.
- Share the spotlight.
- "Think like a long-term investor, manage like an operator."
As technology leaders and executives, we're often called upon to offer advice to senior management. Reading Dimon's shareholder letters provides genuinely useful insight that we can leverage to build stronger ties and deeper relationships across the C-suite and corporate boards.
My upcoming book, The CEO of Technology, focuses on the key drivers of technology evolution in the modern enterprise. There's no question that Dimon really understands the value of technology. He "gets it," and that's one of the reasons he's been so successful.