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Dimon Says Overconfidence Fueled Loss He Can't Defend

JPM  

Linked by Bloomberg ( track newsfeed | ignore newsfeed ) - June 13, 08:42PM from (www.bloomberg.com)

By Dawn Kopecki, Clea Benson and Phil Mattingly - 2012-06-14T00:26:13Z


JPMorgan Chase & Co. (JPM) Chief Executive Officer Jamie Dimon said overconfidence in trusted managers allowed traders to accumulate more than $2 billion in losses through a strategy that “violated common sense.”
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