What’s He Seeing That We’re Not?

When Jamie Dimon talks, the smart money listens.
The JP Morgan boss told the BBC this week he’s “far more worried than others” about a serious market correction within the next six to twenty-four months.

That’s not clickbait. Dimon’s seen more cycles than most traders on X combined — and when he starts talking about overheating, it’s worth a pause.

What’s Got Him Worried

Dimon flagged three things:

• Overheated US equities. The rally’s been driven by AI and hype, not broad earnings growth.
• Rising uncertainty. Geopolitics, fiscal blow-outs, and the remilitarisation of the world all raise systemic risk.
• Sticky inflation. He’s “a little worried” the Fed hasn’t finished the fight.

In short: markets are pricing perfection in a world that’s anything but.

AI: Real Tech, Unreal Valuations

Dimon didn’t dismiss AI — he compared it to cars and TVs: revolutionary tech that made society richer, but bankrupted most of the early investors.
Same pattern every cycle.
Big theme, big hype, bigger wipe-out.

If you’ve been chasing every “AI stock” since 2023, this is your reminder to check what you actually own — and why.

The Safe Plays Coming Back

If the market does correct, the winners won’t be the ones chasing momentum.
They’ll be the ones already getting paid to wait.

That means:

• Government bonds — 3–4% yields in euros, 4.5–5% in USD.
• Defensive ETFs — infra, utilities, quality income.
• Gold — the only asset that doesn’t care who’s in the White House.

Cash isn’t king, but yield with safety is back in fashion.

The KyriWealth View

Dimon might be early — or he might be right on time.
Either way, this is the moment to rebalance.
Keep exposure to growth, but start building ballast: bonds, gold, and real-world yield.

You don’t need to predict the correction — just prepare for it.

Straight talk. Real markets. Long-term outcomes.

— Kyri | kyriwealth.com

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