Businessinsider writes: At this point, you've probably heard
about JP Morgan's shocking and embarrassing $2 billion trading loss, which was
announced last Thursday.
Fans of CEO Jamie Dimon, who is (or was) was widely
recognized as Wall Street's golden boy, have been left confused and
disappointed. One of Dimon's biggest
cheerleaders has been Warren Buffett. In fact, Buffett gave Dimon a shout out
in his latest annual letter to Berkshire Hathaway shareholders, which was
released in February.
Days after Buffett's letter came out, the Oracle of Omaha
was on CNBC to give Dimon even more praise.
"I think Jamie Dimon writes the best annual letter in corporate
America," said Buffett. "Every
viewer will learn a lot by reading his annual report. He thinks well and he
writes extremely well and he works a lot on his report. He told me that."
During the program, Andrew Ross Sorkin asked why Buffett
hasn't purchased any shares of JP Morgan for Berkshire. In response, Buffett unleashed this
bombshell. "I'll let you in on a little secret," said
Buffett. "I own some shares of JP Morgan. Personally. You got some news
from me Andrew…."
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