JPMorgan's CEO Jamie Dimon: I'm not over the hill!

JPMorgan’s CEO Jamie Dimon has a reputation for being brusque, and sometimes combative, so he wasn’t too pleased Friday when a bank analyst suggested he might be losing his edge.

In an exchange with Mike Mayo, an analyst at Calyon Securities, in a conference call that took place after the bank reported its latest quarterly results, Mayo asked if the big losses that the bank saw as a result of a bad trade in its London office was evidence that JPMorgan has become too big to manage.

For Subscribers

FOR SUBSCRIBERSCBP leaders cut out of Trump ad buy decision

FOR SUBSCRIBERSAmerican passenger drafted goodbye texts to her family as Flydubai plane plummeted

FOR SUBSCRIBERSCornell rape allegation pushes embattled New York prosecutor into national spotlight

FOR SUBSCRIBERSAbdul El-Sayed tries to woo MAHA voters as Democrats seek inroads with RFK’s supporters

FOR SUBSCRIBERSKratom-like substances are popping up in a typically benign supplement

FOR SUBSCRIBERSGOP super PAC increases its spending for Sen. Jon Husted in tough Ohio race

FOR SUBSCRIBERSRecords reveal tumultuous marriage between slain New York Times executive and wife

FOR SUBSCRIBERSFrom clean energy warrior to ‘wall of shame,’ James Talarico reverses on a fossil fuel money pledge

FOR SUBSCRIBERSCongressional staff planned official trip with luxury stops in Italy and France weeks before election

FOR SUBSCRIBERSA harrowing ordeal aboard an Israel-bound plane

FOR SUBSCRIBERSOpenAI CEO Sam Altman to skip congressional hearing on rogue AI agents

FOR SUBSCRIBERSKey DOJ lawyers departed Trump ‘grand conspiracy’ probe amid pressure to produce, source says

FOR SUBSCRIBERSTrump’s new AI chatbot often links to a site launched under Clinton 26 years ago

FOR SUBSCRIBERSAt MAHA summit, industry CEOs the movement once vilified take the stage

FOR SUBSCRIBERSThis Paralympian has two goals: Win medals and give away $500,000 to her teammates

For Subscribers

FOR SUBSCRIBERSCBP leaders cut out of Trump ad buy decision

FOR SUBSCRIBERSAmerican passenger drafted goodbye texts to her family as Flydubai plane plummeted

FOR SUBSCRIBERSCornell rape allegation pushes embattled New York prosecutor into national spotlight

FOR SUBSCRIBERSAbdul El-Sayed tries to woo MAHA voters as Democrats seek inroads with RFK’s supporters

FOR SUBSCRIBERSKratom-like substances are popping up in a typically benign supplement

FOR SUBSCRIBERSGOP super PAC increases its spending for Sen. Jon Husted in tough Ohio race

FOR SUBSCRIBERSRecords reveal tumultuous marriage between slain New York Times executive and wife

FOR SUBSCRIBERSFrom clean energy warrior to ‘wall of shame,’ James Talarico reverses on a fossil fuel money pledge

FOR SUBSCRIBERSCongressional staff planned official trip with luxury stops in Italy and France weeks before election

FOR SUBSCRIBERSA harrowing ordeal aboard an Israel-bound plane

FOR SUBSCRIBERSOpenAI CEO Sam Altman to skip congressional hearing on rogue AI agents

FOR SUBSCRIBERSKey DOJ lawyers departed Trump ‘grand conspiracy’ probe amid pressure to produce, source says

FOR SUBSCRIBERSTrump’s new AI chatbot often links to a site launched under Clinton 26 years ago

FOR SUBSCRIBERSAt MAHA summit, industry CEOs the movement once vilified take the stage

FOR SUBSCRIBERSThis Paralympian has two goals: Win medals and give away $500,000 to her teammates

Has the bank reached a tipping point when it comes to size or complexity that makes it more difficult to manage than in the past?

“No,” Dimon replied curtly, prompting laughter from others on the call.

“What can you say to further reassure us?” Mayo continued. “Have you lost a step? Has the focus gone off?”

More laughter, and then Dimon’s reply:

“Am I getting old? Mike, this company is the same company that went through ’06, ’07, ’08, ’09, 2010, 2011, assimilated Bear Stearns and bought Washington Mutual,” Dimon thundered.

“We had record earnings last year. We had record earnings the year before. It’s likely, if you look at your own estimates, we’ll have record earnings this year.”

“We’ve made a mistake. We’ve completely disclosed the mistake. We’ve denuded ourselves in front of you. We’re in better shape than we were before.”

Mayo responded by saying that the details divulged about the trading losses at the bank’s London unit were akin to seeing how sausage is made.

“It makes me wonder if I might get food poisoning in the future,” Mayo quipped. “What would you say if you’re talking to a portfolio manager and you have 20 seconds to say why that won’t happen again, what would you say to that portfolio manager?”

Dimon snapped back that several steps have been taken to minimize future risk.

“I think it’s silly for anyone in the business world to think you’re not going to make mistakes,” Dimon said. “It is not possible in the real world. That’s only possible in the fictional world. I just think the mistakes should be smaller, fewer and far between, this being an exception.”

Click here to check JPMorgan's share price.