JPMorgan’s Dimon Warns Again on Risks of Credit Downturn (1)

JPMorgan Chase & Co.’s Jamie Dimon again cautioned that a credit market downturn could be worse than expected, even after his firm and Wall Street rivals posted a banner quarter in which loan portfolios held up.

In private credit specifically, the fact that there are more than 1,000 firms in the space probably means not all of them will fare well when the cycle turns, Dimon said Tuesday at a Norges Bank Investment Management conference.

Some firms “may be brilliant, but I guarantee you not all 1,000 of them are,” Dimon said. “So in my view, because of that ...