Longtime CEO of JPMorgan Chase, led the bank through the 2008 financial crisis acquiring Bear Stearns and Washington Mutual, known for fortress balance sheet and rigorous risk management.
no scored calls yet — needs a stated position or a categorical verdict, with a matured window vs SPY
JPMorgan maintains a fortress balance sheet and runs hundreds of weekly stress tests including Great Financial Crisis scenarios, ensuring resilience across a wide range of outcomes from low rates to $200 oil.
Private credit has seen broad deterioration in underwriting standards with aggressive assumptions, higher leverage, weaker covenants, and ratings arbitrage; while large firms like Blackstone may be brilliant, many of the thousand private credit funds lack experience and a coming credit recession will be worse than expected.
Norway's Kongsberg, which manufactures missiles, exemplifies friend-shoring — a viable alternative to pure domestic production for critical defense supply chains among Western allies.