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BAD HARBINGER? Jamie Dimon To Sell His JPMorgan Shares For First Time In 18 Years!

What do I say over and over again?

Watch what they DO, not what they SAY.

Who is “they”?

The people who run the world, and top of that list is the man who runs the biggest bank in America and has for decades: Jamie Dimon.

For 18 years (!!), Dimon has never sold a share of his JP Morgan stock, but that all changed when he recently filed to share One Million shares!

Take a look:

Reuters reports the sales will actually occur next year (presumably due to regulatory requirements) and could fetch Dimon as much as $141 MILLION:

Chief Executive Officer Jamie Dimon will sell some of his shares in the largest U.S. bank next year for the first time in almost 18 years at the helm, the bank said on Friday, sending the stock down more than 3%.

Billionaire Dimon will sell the stock for “financial diversification and tax-planning purposes,” and “continues to believe the company’s prospects are very strong,” the bank said in a filing. Dimon and his family intend to sell 1 million of their 8.6 million shares, according to the filing. That is a tiny percentage of the shares outstanding in JPMorgan which has a market capitalization exceeding $409 billion, according to LSEG data.

Dimon, one of the most prominent voices in corporate America, steered JPMorgan through the 2008 financial crisis. He was also integral in the rescue of First Republic Bank this year which helped quell turmoil fueled by the collapse of several regional banks.

The stock sale “makes perfect sense” given Dimon’s wealth is so concentrated in his company’s stock, said Octavio Marenzi, chief executive of Opimas, a management consultant focused on capital markets. Still, investors can view such moves as a bad sign.

“In his rhetoric, he has become more negative and quite bearish,” Marenzi said. “It doesn’t look good, but they’re massaging the optics as best they can.”

Dimon warned in October that “this may be the most dangerous time the world has seen in decades.” Still, the bank reported a 35% jump in profits.

The 67-year-old bank chief has an estimated net worth of $1.7 billion, according to Forbes.

The sale is not related to leadership succession, a company spokesman said. Dimon has no current plans to sell more stock, but could consider doing so in the future, the spokesman added.

In May, the CEO signaled he could depart in 3-1/2 years.

Several executives who were viewed as potential successors to run JPMorgan have left to run other companies as Dimon stayed longer than expected.

The share sale would fetch nearly $141 million, with a remaining stake of about $1.07 billion, based on Thursday’s closing price. It will account for less than 10% of Dimon’s holdings, which also include performance shares that have not vested and stock appreciation rights.

Shares of JPMorgan slid more than 3%, falling with peers Bank of America (BAC.N), Citigroup (C.N) and Wells Fargo (WFC.N).

“Typically, CEOs or insiders selling stock sparks concern, but not in this case, as the bank’s balance sheet remains in a strong position,” said Brian Mulberry, client portfolio manager at Zacks Investment Management, which holds JPMorgan stock.

No doubt Dimon knows what’s going on behind the scenes better than anyone….

Does he see the writing on the wall?

Record layoffs for banks are never a sign of good times ahead:

Dimon’s sale leading to more sellers?

Speculation from this post on Twitter that he may be moving out of JPM and into Gold?

But this is just the tip of the iceberg….

Gold Telegraph had a great summary of headwinds that could lead to a massive crash and/or bank run soon:

The American Financial System: 🇺🇸

1. Delinquent commercial real estate loans at US banks have hit their highest level in a decade.

2. US bank stocks have collapsed to all-time lows when measured against the S&P 500 index.

3. Jamie Dimon and his family will sell $141 million of JPMorgan stock in 2024.

4. US banks are sitting on an estimated $650 billion in unrealized losses on their bond holdings.

5. The 60+ days delinquency rate of the subprime-backed ABS that Fitch tracks rose to 6.1% in September… this represents a RECORD.

These are the facts.

Hey don’t say we haven’t been warning you!

In addition to filing to sell shares, Dimon has also specifically said things look bad:

From Newsmax:

JPMorgan Chase CEO Jamie Dimon kicked off third-quarter earnings with a grim warning to investors. “Now may be the most dangerous time the world has seen in decades,” Dimon wrote in the company’s report.

The wars in Ukraine, Israel and Gaza “may have far-reaching impacts on energy and food markets, global trade and geopolitical relationships,” Dimon wrote.

In JPMorgan Chase’s earnings call Friday morning, Dimon said bank executives throughout the U.S. are “climbing the wall of worry,” a reference to resilient markets in times of economic uncertainty, CNN Business reports.

“And we should,” Dimon continued. “That’s kind of our job, to be prepared for potential outcomes you don’t expect.”

The JPMorgan chief said bankers need to remain vigilant about the unknown: “We do a hundred stress tests a week. Usually, geopolitics presents itself as a deep recession or a mild recession — and markets doing well is not a reason to say they will continue to do well.”

JPMorgan economists are now predicting that the U.S. will achieve a soft landing, whereby it skirts a recession and high unemployment.

All of this comes on the heels of two stories we brought you last week….

First Moody’s cuts the entire USA outlook to Negative:

BREAKING: Moody’s Cuts USA Outlook To “Negative”

Yes, the UNITED STATES OF AMERICA!

Negative!

And if things look bad at JP Morgan, it's arguably much worse over at Bank of America:

Bank of America “Near Insolvent”? Bank Run Possible?

Look, I'm not an investment advisor, but may I humbly suggest if you want to protect your retirement it might be time to look into Gold and Silver?

And did you know you might be able to get a LOT of Gold with no money out of pocket?

That's right...and I can help you, info down below.

If you have a retirement account, you might be able to do the same thing Jamie Dimon is doing (at least the first part is confirmed as to Dimon).....get OUT of risky stocks and move that money over to Gold!

Did you know this?

Gold Is Now A “Tier 1 Risk Free Asset”

You need to talk to my friends over at Genesis Gold and tell them NOAH sent you....

I promise they will take amazing care of you and the call and consultation is 100% free.

Here's why I LOVE working with them:

Christian Precious Metals Company Embraces Integrity to Protect Americans’ Retirement

You're about to discover a closely-guarded secret within the precious metals industry. At first glance, it’s easy to miss even when it’s staring people in the face. But a little research and a lot of common sense makes it apparent that many gold companies are not being forthright about the end results of their services. Genesis Gold Group, co-founded by the visionary Jonathan Rose, is pioneering a transparent approach in an industry where honesty is surprisingly rare.

"More Money In Their Retirement Account"

“We want every American we work with to have more money in their retirement account in the future than they have when they start working with us,” said Jonathan Rose, co-founder of Genesis Gold Group. “It may sound like an obvious goal, but most Americans would be shocked to know the truth.”

Genesis Gold Group stands out as a Christian organization, expertly guiding clients in transforming their retirement accounts into self-directed IRAs, fortified with physical precious metals. This strategy is increasingly relevant given the economic landscape, ensuring the protection of your hard-earned savings.

The Ethical Alternative

Contrasting sharply with the common practices in this sector, Genesis Gold Group operates with a moral compass. “Most gold companies run their business like a shady used car lot,” Rose said. “They burn through customers as quickly as possible, pressuring them to initiate transfers while avoiding even basic questions. We believe in educating our customers so they are comfortable with the relationship today and long after we assist them.”

This ethos has earned them an impeccable five-star rating with the Better Business Bureau, a testament to their integrity and customer-centric approach.

Click here to reach out to Genesis Gold Group today.

Transparency and Growth

“Our intentions are very transparent,” Rose said. “We want to put the proper mix of precious metals into our customers’ depositories in hopes that they will appreciate significantly by the time our customers start taking distributions. We recommend those distributions are made in their gold and silver being shipped to their doors so they can then store them at home for safekeeping.”

Historical and Biblical Significance

Throughout history and the Bible, precious metals have been synonymous with enduring value. This timeless principle is especially relevant today, with experts from various backgrounds acknowledging the increasing importance of gold and silver in these turbulent economic times. It's not just about financial security; it's about making wise choices that align with time-honored wisdom.

Rising Above Fear

Unfortunately, the increased interest in physical precious metals means a renewed drive by some companies to take advantage of the fear. Genesis Gold Group does not engage in “fearmongering” because their Biblical worldview gives them and their customers hope. One needs not be scared of engaging in financial stewardship when they know how the story ends.

In a climate where fear is often exploited, Genesis Gold Group stands apart, guided by a Biblical worldview that offers hope and reassurance. “To safeguard my wealth during economic challenges, I choose to invest in precious metals like gold and silver,” said Pastor David Holland, director of philanthropy for Genesis Gold Group. “These assets serve as a means of preserving my resources so that when the right time comes, I can put them to work for the important purpose of advancing God’s kingdom. This could include assisting neighbors in need or supporting missionaries near and abroad, but I am unable to help if my wealth is wiped out.”

Take Action for Your Financial Security

If you have wealth or retirement that you want to protect with physical precious metals backing a self-directed IRA:

Click here to reach out to Genesis Gold Group today.

p.s.  Did you know Superman likes them too?

That's right, Dean Cain is a big fan just like I am...watch here:

But....what does AI think?

After all, it's smarter than us already, right?

Feels like it.

Here's what it just told me:

Investing in gold has long been considered a strategic move, particularly in times of economic uncertainty. Here's a detailed investment thesis for gold as of late 2023:

  1. Hedge Against Inflation: Gold traditionally serves as a hedge against inflation. In times when inflation rates are high, as has been the case recently, the value of fiat currencies tends to decrease. Gold, however, often maintains its value or even appreciates, thereby protecting the purchasing power of investors.
  2. Economic Uncertainty and Market Volatility: Amidst ongoing global economic uncertainties, including geopolitical tensions and the lingering effects of the COVID-19 pandemic, investors often turn to gold as a safe haven. Its price is less influenced by government policies and economic downturns, making it a stable investment compared to more volatile asset classes like stocks or cryptocurrencies.
  3. Diversification Benefits: Including gold in an investment portfolio can provide diversification benefits. Its price movement often exhibits a low to negative correlation with traditional financial assets like stocks and bonds, which can reduce overall portfolio risk.
  4. Increasing Demand in Emerging Markets: The demand for gold in emerging markets has been rising, driven by growing wealth and an increasing cultural affinity for gold in countries like China and India. This trend is likely to continue, supporting the price of gold.
  5. Limited Supply and Increasing Production Costs: The supply of gold is limited, and the costs of mining and production are rising. This limited supply, coupled with increasing production costs, can contribute to higher gold prices over time.
  6. Monetary Policy and Low Interest Rates: The global trend towards lower interest rates reduces the opportunity cost of holding non-yielding assets like gold. Furthermore, expansive monetary policies by central banks, such as quantitative easing, can lead to currency devaluation, making gold more attractive.
  7. Technological and Industrial Demand: Gold’s use in various technological applications and industries, including electronics and medicine, adds to its demand. As technology advances, new uses for gold could emerge, potentially driving further demand.
  8. Investment Accessibility: The increasing availability of gold-backed investment products, such as ETFs and gold mutual funds, has made it easier for individual investors to gain exposure to gold without the need to physically hold the metal.
  9. Global Debt Concerns: With rising global debt levels, especially in developed economies, there is a growing concern over potential financial crises or debt defaults. Gold is often seen as a safe asset in such scenarios.
  10. Geopolitical Stability: Gold is globally recognized and isn't tied to any one country's economic or political stability. This global acceptance makes it a preferred choice in times of international political tensions.

(Note: The information provided by WLTReport or any related communications is for informational purposes only and should not be considered as financial advice. We do not provide personalized investment, financial, or legal advice.)


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