JP Morgan’s Wall Street chief talks China, bitcoin, Amazon and is preparing for an inevitable big downturn in stocks
Daniel Equus caballus has seen his share of booms and busts.
An Argentinean United Nations agency spent a lot of of his early career in volatile, rising markets, Pinto, 55, began at J.P. Morgan Chase in 1983 as a currency monger in Buenos Aires. Because of his ability to manage risk during a series of roles, Equus caballus has climbed the ranks. In 2014, he was named head of the firm's company and investment bank, the world's biggest by revenue.
In January, he was named co-president of J.P. Morgan. Which means he and partner Gordon Smith, a United Nations agency leads the patron bank, square measure in line to succeed long-time CEO Jamie Dimon if the requirement arises among following few years.
In an associate exclusive interview at the bank's Park Avenue headquarters and during a follow-up phone speech communication, Equus caballus explains his views on a world economy within the latter stages of enlargement, the opportunities he sees and the way his bank is making ready for the inevitable downswing.
CNBC: You pay plenty of your time flying round the world visiting purchasers, leaders in industries from school to energy. What square measure they are telling you concerning the state of the economy?
Pinto: just about everybody agrees that the economy is in superb form. Obviously, there square measure totally different dynamics in every of the sectors. For instance, in the week I used to be in Houston talking with a number of the oil firms. They're quite positive concerning the economy, concerning oil costs, maintaining a spread, and that they square measure quite positive concerning investments going into the arena.
We have of these firms coverage earnings, and overall the results appear fine. The technical aspects of the market square measure a lot of balanced than they were late last year, wherever it had been just about one read, which read was that the markets can improve despite what. Thus, you've got a bunch of parts, from the technical half, to the economy playacting and corporations playacting, that altogether makes Pine Tree State quite positive for the economy.
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