Jamie Dimon: Tariffs Aren't the Way to Go

Mae Love
June 9, 2018

Dimon said CEOs can influence their quarterly results by not opening branch offices, cutting research and development spending, reducing their marketing and other decisions that could hurt future earnings.

Buffett, who is Berkshire Hathaway's chairman, and JPMorgan Chief Executive Jamie Dimon said in the interview that they had selected a person for the healthcare venture's top job.

Berkshire Hathaway CEO Warren Buffett, J.P. Morgan CEO Jamie Dimon and Amazon CEO Jeff Bezos have chosen a CEO for their health-care venture. The analysts take the company guidance into consideration when making investment recommendations and setting price targets for stocks.

Two of Wall Street's harshest bitcoin critics are once again warning investors of the dangers of bitcoin. Missing "the number" can often result in big, short-term stock moves.

Although we've seen no immediate opposition to the proposed elimination of quarterly EPS guidance, it's not hard to imagine what at least one argument might be: just because companies don't publish the number does not mean they won't calculate such a number.

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It also recently kicked off a trade investigation that could trigger additional tariffs on imported cars. The Russian President said today he hopes Moscow's relationship with Washington improves.

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He showed her to a front-row seat across the aisle from Vice President Mike Pence before heading to the microphone. Melania donned a black dress while walking into the East Room with President Trump .

It's "sending the wrong message", Buffett told CNBC's Becky Quick in the interview.

Buffett and Dimon helped produce a set of voluntary governance guidelines two years ago, which was signed by more than one dozen executives.

Dimon said the Business Rountable has been quite clear that it doesn't think tariffs are the way to do it. They have said the practice of telling Wall Street what to expect from earnings can distort management's priorities. At JPMorgan's investor day in February, he called on companies to stop providing the guidance, saying earnings are hard to predict and companies have an incentive to fudge numbers.

Buffett, who is chairman of Berkshire Hathaway Inc (BRKa.N), and Dimon wrote in a Wall Street Journal column on Thursday that the pressure to meet short-term estimates has contributed to a fall in the number of USA public companies. About 31 percent gave annual earnings-per-share guidance.

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