JPM - JPMorgan Chase & Co. (JPM) Bernstein's 40th Annual Strategic Decisions Conference (Transcript)
2024-05-31 18:14:06 ET
JPMorgan Chase & Co. (JPM)
Bernstein's 40th Annual Strategic Decisions Conference
May 29, 2024 09:00 AM ET
Company Participants
James Dimon - CEO
Conference Call Participants
Presentation
Unidentified Analyst
Thanks, everyone. Very happy to have JPMorgan Chase CEO, Jamie Dimon joining us. Jamie, thanks so much for coming back. Great to have you here.
James Dimon
Thank you.
Question-and-Answer Session
Q - Unidentified Analyst
I was hoping to start off with a few follow-ups from Investor Day last week. Couple of things on folks' mind after [Multiple Speakers]
James Dimon
[Multiple Speakers] year about stock buyback.
Unidentified Analyst
Yeah. So I mean I think for context, last week, share buybacks is something investors are clearly very focused on. You're generating a lot of capital. If we fast forward a year or two, you'll have quite a bit of excess capital, so, yeah, the comments about being valuation sensitive caused some stir, maybe you could give follow-up thoughts on how you think about that.
James Dimon
Let me just totally clarify, first of all, welcome, everybody. Totally clarify, we told the world we're buying back approximately $2 billion a quarter, we continue to do that. Jeremy Barnum said, we might do more. There's a logic to use the Visa after-tax money to buyback stock is market neutral. So Visa goes up and down in JPMorgan, we're not going to tell you exactly the timetable of that, but thinking of that, that's a very rational thing to do. We've been doing some of that. We'll continue to do that. And from there, we could do more or less as we see fit. There are no promises on any -- we've always been sensitive about the stock price. I do not believe that buying back the stock at any price is the same thing and that we should be thoughtful about that. So as the stock goes up, we buy less; as the stock goes down, we probably buy more. We are going to end up with a lot of extra capital and we're not going to just spend it because it happens to be sitting there....
JPMorgan Chase & Co. (JPM) Bernstein's 40th Annual Strategic Decisions Conference (Transcript)