Jamie Dimon is starting to sound a bit like Alan Greenspan—and that should make investors nervous.
The JPMorgan Chase CEO warned in a Bloomberg TV interview this week that markets may be showing “too much exuberance,” pointing to frothy valuations around artificial intelligence and the Big Tech giants building out the infrastructure behind it. His choice of words evokes Greenspan’s infamous “irrational exuberance” line from 1996, when the then–Federal Reserve chair cautioned that animal spirits can push asset prices far beyond what fundamentals justify, leaving them vulnerable to painful reversals.
