By many measures, JPMorgan had a great year. How else can you describe a record $21.8 billion in profit? In his annual letter to shareholders, bank boss Jamie Dimon could have just printed that figure in big, bold letters, given a cursory shout-out to bank employees and called it a day.
But in the end, Dimon penned a 38-page rundown (pdf) of the bank’s many successes, its competitors’ many failures, and the forces that are conspiring to stop it from making even more money in the future.
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