Jamie Dimon's dad handed him annual reports as a kid and had him play this 'brutally hard' game that shaped his life

Family crippled nights are often an excuse to relax, stroke disconnected steam and person fun. Unless, perhaps, you're Jamie Dimon.

The 70-year-old president and CEO of JPMorgan Chase precocious revealed connected an occurrence of The Master Investor Podcast with Wilfred Frost that, arsenic a kid, helium played an investing crippled with his dada that makes Monopoly dependable arsenic quaint arsenic Go Fish.

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"You could inactive bash this workout and I'd inactive beryllium humbled by it," Dimon said, explaining that it began with his begetter — who was a stockbroker — handing him an yearly study for a edifice oregon a institution successful different manufacture with which he'd beryllium familiar.

"[He'd] say, 'Okay, look astatine this. Look astatine the history. Read the yearly report. Study the manufacture if you want. What would you wage for the stock?'" Dimon said. "It is brutally hard … You deliberation 'Oh it's worthy 13 times net and the marketplace has it astatine 7 oregon or 25.' And truthful it's humbling."

The workout — which helium noted his begetter ne'er forced connected him oregon his 2 brothers, who some had nary involvement successful it — helped foster Dimon's involvement successful concern and pave the mode for his aboriginal success. At 14, helium traded his archetypal stock, helium added.

And portion the fiscal benefits to specified aboriginal lessons are evident, experts accidental that teaching kids astir wealth aboriginal offers worth acold beyond elemental dollars and cents.

The beingness lessons hidden wrong fiscal acquisition

In an interrogation past twelvemonth connected the How Leaders Lead with David Novak podcast, Dimon mentioned that his begetter was much funny successful doctrine and really didn't privation him to go a stockbroker.

And alternatively than hammering fiscal lessons into their kids, Dimon recalled his parents imparting a antithetic lesson: bash thing with purpose.

"Could beryllium art, it could beryllium science, it could beryllium teaching, it could beryllium being a parent. It wasn't thing [other] than conscionable bash it good and person a purpose," Dimon said. "And they were beauteous strict astir that, some of them."

Yet, by teaching Dimon astir stocks and investing young, his begetter mightiness person helped instill the tools that his lad needed to prosecute that beingness of intent — immoderate way he'd chosen.