Jamie Dimon’s got some advice to investors riding high on asset prices: ‘Take a deep breath and watch out’

Fortune

by Eleanor Pringle

February 24, 2026

AI-Generated Deep Dive Summary

Jamie Dimon, CEO of J.P. Morgan Chase, has issued a cautionary note to investors amidst rising market optimism. With the S&P 500 up 14% over the past year and significant investments pouring into artificial intelligence, Dimon warns that while current conditions may seem favorable, there are numerous risks on the horizon. He emphasizes the importance of staying vigilant and preparing for potential economic disruptions, urging investors to “take a deep breath and watch out.” Dimon’s concerns stem from longer-term challenges such as geopolitical tensions, global trade disputes, and military rearmament, which he believes could have severe consequences. Additionally, he highlights the U.S.’s unsustainable fiscal trajectory and rising global deficits as potential triggers for future economic instability. These factors, combined with high asset prices, create a heightened sense of risk in Dimon’s view. While acknowledging the optimism surrounding AI-driven growth and deregulatory policies, Dimon remains skeptical about their long-term impact. He advises against complacency, noting that history is filled with unexpected surprises. His pragmatic approach to leadership ensures JPMorgan Chase is prepared for any market shifts, regardless of economic conditions. Dimon’s remarks also touch on his plans for succession at the bank, a topic often of interest to investors. While he previously joked about retiring in five years, he now suggests that timeline may change, though he provided no specifics during his recent address to shareholders. For readers interested in business and finance, Dimon’s comments underscore the importance of staying informed about both short-term market trends and long-term macroeconomic risks. His perspective offers valuable insights into managing investments during periods of high growth and uncertainty.

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Originally published on Fortune on 2/24/2026