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Dimon's Dictum: "Poorly Underwritten Loans Represent Income Today, Losses Tomorrow"
Monday, June 18, 2012 - 9:27am | 1243The aphorism is by Jamie Dimon. I took it from his March 30, 2012 Letter to shareholders (p. 8). The immediately preceding sentence was: "Low-quality revenue is easy to produce, particularly in financial services." http://www.scribd.com/doc/88143909/Annual-Report-Letter Aphorisms are pithy....