Always treat others with respect and kindness, even if you disagree with them. Avoid making personal attacks or insulting others, and try to maintain a civil and constructive tone in your discussions.
- Manlobbi
Halls of Shrewd'm / US Policy
No. of Recommendations: 3
For those who have been reading these Berkshire message boards for over 20 years, it's time for me to speculate, again. Why did Dimon and Buffett meet and what was the nature of the conversation? My GUESS is that Dimon has agreed to become SEC of the Treasury regardless of who wins. Dimon would receive huge tax benefits if he took the job. Section 1043 of the tax code is complex, but Dimon would have to sell his JP MORGAN stock , his other stock holdings, TAX FREE, and reinvest in broadly diversified funds etc. IF, Buffett continues to sell apple down to a much smaller position within brkb, and he continues to sell the Bank of America down substantially, could Dimon make the argument that BRKB is so broadly diversified that he should be allowed to invest a portion or most of the proceeds of his stock sales in Berkshire. We know Buffett has always been a huge fan of Dimon, we know Dimon and Buffett both HATE the crypto space, and I can't think of any better way to close out Buffett's life and career than having Jamie go, ALL IN, Berkshire. Obviously, the wall street money and support would flow to Harris IF Dimon can, hint to the street, and the bigger players that he will be Harris's SEC of the TREA and that she would be receptive to becoming, capitalist friendly, regardless of her prior, leanings. Unlike prior predictions, on this one I'll know if I was right in 6 months or less. Hopefully Buffet stays in acceptable health, and gets to enjoy this possible outcome, in your 90s, health can change very quickly. Not a bad time to thank uncle Warren Buffett for being the most unselfish CEO in American history. He never took one stock option or one free share from us, his partners, he never took a reasonable salary above the cost of his own security team, and he's giving away 99 % of his wealth. What a ride!!
No. of Recommendations: 15
Wow man, sometimes you are really out there aren't you?
I can't see any of that being true.
No. of Recommendations: 0
"" Wow man, sometimes you are really out there aren't you?
I can't see any of that being true.""
Good morning nola, remind me, how long have you been on the message boards with us early 2000? Yahoo ? Fools ? Thanks man.
No. of Recommendations: 3
nola, before I go to pickleball, you have computer skills, I don't. If you can search the Fools board 2007-2009 and find my posts on, FSFE, foundation sales forever effect, on your next trip to Vegas, steak and lobster awaits your visit. It will be informative for anyone who tries, Daid Rolfe was a poster back then, rational walk posted, and many other hedge fund guys who hit me up privately so I won't disclose their real identity. Of course jim, the stable genius, and many other old timers were also around back then. Thanks to anyone who tries, good luck. Later.
No. of Recommendations: 8
Good morning nola, remind me, how long have you been on the message boards with us early 2000? Yahoo ? Fools ? Thanks man.
I wasn't on fool boards until fairly recently and then moved over here. I remember you from early 2000's from the yahoo finance group called "chucks angels" or something like that.
I have no doubt that you have been right about something in the past but I don't see how being right on something in the past makes any difference as it relates to your post on Dimon / Buffett / T-sec / Berkshire as a suitable investment for cabinet members / etc...
Enjoy your pickle ball
No. of Recommendations: 4
President Kamala Harris, celebrating her victory thanking grateful progressive Dems who turned out in droves to make it possible.
Upon election, President Harris turns to Elizabeth Warren and declares "I'm making Jamie Dimon, head of JP MORGAN (yes--THAT Wall Street firm, Liz!)--the next Treasury Secretary! We need more Big Bank Wall Street influence in our administration, Liz, right?! And it gets better. I know how much you love big, massive powerful conglomerates: we're gonna make Jamie unload his JP Morgan stock and he's agreed to invest instead with a company that makes JP Morgan look like the corner grocery store--BERKSHIRE HATHAWAY!1 Ha ha ha I love it!!. C'mon over here Bernie Sanders--get this: we're gonna have Jamie put his money instead in a conglomerate approaching a TRILLION BUCKS in size and is big in heavily REGULATED industries like Utilities, railroads, Insurance --and is run by one of the richest guys in the world!! How cool is that, Bernie?!".
Yeah I can see this for sure.
No. of Recommendations: 0
" I can't see any of that being true."
nola, what would you makes the odds of Dimon agreeing to be the next SEC of the TREA, and do you make a friendly wager from time to time ? Thank you.
No. of Recommendations: 0
"" I have no doubt that you have been right about something in the past but I don't see how being right on something in the past makes any difference as it relates to your post on Dimon / Buffett / T-sec / Berkshire as a suitable investment for cabinet members / etc...""
Thanks for the reply bud. I guess you weren't around when certain poster aggravated rationalwalk which helped to convince him to leave the message board and start his own site. Since he's still active it wouldn't be right for me to tell the story, lets if he's willing to tell it, since he writes well anyway. Just so I'm clear, are you agreeing that Dimon might agree to serve as SEC of TREA, BUT, once he's forced to liquidate his stock holding's, there is NO WAY he would get approval to buy brkb as a mutual fund alternative? Is that your position ? Thank you. btw, IF someone finds my posts from 2007, on the FOOLS Board, what I may have gotten right, 17 years ago.
No. of Recommendations: 1
" Upon election, President Harris turns to Elizabeth Warren and declares "I'm making Jamie Dimon, head of JP MORGAN (yes--THAT Wall Street firm, Liz!)--the next Treasury Secretary! We need more Big Bank Wall Street influence in our administration, Liz, right?! And it gets better. I know how much you love big, massive powerful conglomerates: we're gonna make Jamie unload his JP Morgan stock and he's agreed to invest instead with a company that makes JP Morgan look like the corner grocery store--BERKSHIRE HATHAWAY!1 Ha ha ha I love it!!. C'mon over here Bernie Sanders--get this: we're gonna have Jamie put his money instead in a conglomerate approaching a TRILLION BUCKS in size and is big in heavily REGULATED industries like Utilities, railroads, Insurance --and is run by one of the richest guys in the world!! How cool is that, Bernie?!".
So, are you saying that if Harris wins, she will bend over for the far-left wing of the party, hence us capitalists have no choice but to vote for trump ? Great, and I say Harris will offer the job to Dimon and she will lead toward the middle and be capitalist friendly.
No. of Recommendations: 1
I wasn't on fool boards until fairly recently and then moved over here. I remember you from early 2000's from the yahoo finance group called "chucks angels" or something like that.
I was on that board. I remember the head of the board, always used the presidents name as his.
No. of Recommendations: 1
Or maybe Dimon is recommending some company Buffett could buy or some thing only Buffett can finance..
No. of Recommendations: 0
Or it could be Dimon might be invited to join the board?
No. of Recommendations: 0
" Or it could be Dimon might be invited to join the board?"
Could be but that wouldn't be the home run. Here is a breakdown of the SPY. How much apple and BAC would Buffett have to sell to get reasonably close to an index fund? Thanks to those who respond.
"Sector Weightings
Sector
SPY
Technology
32.29%
Financial Services
12.63%
Healthcare
11.89%
Consumer Cyclical
10.18%
Communication Services
8.86%
Industrials
7.90%
Consumer Defensive
5.78%
Energy
3.70%
Utilities
2.48%
Real Estate
2.28%
Basic Materials
2.01%
No. of Recommendations: 7
Or, as Buffett has said often, they are very good friends.
They worked closely together very recently along with Jeff Bezos on a “go big” Health Insurance Project which was disbanded but from which they took away lessons Buffett says will help Berkshire, JP Morgan, and Amazon in their health coverage initiatives.
2 highly respected corporate titans with strong mutual respect and a longstanding personal friendship.
That they meet and talk is not a surprise. If they cut off their friendship that would be a big surprise.
No. of Recommendations: 1
" That they meet and talk is not a surprise. If they cut off their friendship that would be a big surprise."
The 64 Billion dollar question is, has Dimon agreed to become SEC of the Treasury? IF so, he must sell his JPM shares. Obviously 2 billion or so is not that material to brk. He may sell his shares to brk, that is certainly a possibility. It's always fun to speculate, Buffett and Dimon don't call me! I can't even get Jlo to call me between marriages.
No. of Recommendations: 5
I’ve met Jamie since I ran the JPM account for a mega tech company
He is very impressive. Besides what you see when he speaks in public, his attention to detail and his grasp of technology is unmatched IMO.
No. of Recommendations: 1
" He is very impressive. Besides what you see when he speaks in public, his attention to detail and his grasp of technology is unmatched IMO"
Yep, plus he is respected by both sides of the street, hopefully he will agree to serve the country. I never understood why brk doesn't own at least 5 % jpm. Buffett could have sold his jpm to brk and loaded up years ago within brk?
No. of Recommendations: 13
Leaving politics aside on this- speaking for myself and I think most investors/capitalists, we would love Dimon to be Treasury Sec for many reasons. I think anyone would love it if the US finances were run anywhere close to JPM’s. I think he articulates capitalism as well as anyone and can market our country well at home and around the world.
As a Berkshire shareholder- who wouldn’t want Dimon on the board? He runs the capital allocation of JPM the way Buffett runs it for us. Repurchases at sensible prices.
If Dimon is being considered for the Treasury Secretary position, who better to consult with than Buffett for some ideas as to what he thinks should be worked on.
Or it is simply, “i was in the neighborhood and wanted to see my friend”
No. of Recommendations: 13
Leaving politics aside on this- speaking for myself and I think most investors/capitalists, we would love Dimon to be Treasury Sec for many reasons. I think anyone would love it if the US finances were run anywhere close to JPM’s. I think he articulates capitalism as well as anyone and can market our country well at home and around the world.
As a Berkshire shareholder- who wouldn’t want Dimon on the board? He runs the capital allocation of JPM the way Buffett runs it for us. Repurchases at sensible prices.
If Dimon is being considered for the Treasury Secretary position, who better to consult with than Buffett for some ideas as to what he thinks should be worked on.
Or it is simply, “i was in the neighborhood and wanted to see my friend”
You guys are reading way too much into this meeting. Dimon was on his annual bus tour and this year they visited cities and towns in the midwest, including Omaha. Not only are Warren and Jamie friends, but Todd Combs is on the JPM board of directors and works down the hall from Warren. So yes, I'm sure they had lunch together.
The job of Treasury Secretary is not a desirable job, it is not a powerful job. It is only an important job during a crisis. The Treasury secretary just makes sure the bills get paid and they have the President's ear - but only Congress can decide how the US runs its finances.
So, no, I don't think Jamie Dimon, who has an important, powerful and interesting job, has any interest in becoming Treasury Secretary and I think it is preposterous that he would somehow believe he had the job before we even know who the next president is going to be.
I do, however, think Jamie would consider running for President. I wish he would. I don't care which party he runs under. I don't think he will be willing to work under President Trump as an underling. I don't think Kamala would choose him and I don't think he would accept T-sec if offered.
When I have advanced his name as my top choice for a Dem. candidate my Democrat friends all say no way (banker, billionaire, etc etc) Some don't even know who he is so they also say no way. Disappointing because that means he probably won't get the chance to be the candidate as a democrat and for some reason I thought that was his more likely party.
I would really enjoy seeing him in a televised debate with any presidential candidates. He would slay them all.
No. of Recommendations: 0
“ The job of Treasury Secretary is not a desirable job, it is not a powerful job. “ How much unrealized capital gains does Dimon have? A billion give or take? Being able to take those gains tax deferred or tax free isn’t a bad incentive. Just sayin.
