What's Lazy At JPMorgan Is The Stock Price, Not Institutional Shareholders

JPMorgan’s chief imperial commander, Jamie Dimon, has a reputation around the office as a man possessed with performance. Senior bankers are said to avoid the executive lunchroom because they might be confronted about a performance shortcoming or otherwise subject themselves to a dressing down in front of the troops. And yesterday, institutional investors now also know this sinking, deflating feeling.

Dimon called JPMorgan’s shareholders “lazy” yesterday, characterizing them as “bad investors” as a move is underfoot questioning the direction of a bank that some think is undervalued and has had some run-ins with the law as of late.