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Jamie Dimon to Wells Fargo: Go ahead, make my day

Breakingviews
Jeffrey Goldfarb
Jamie Dimon at the 2016 World Economic Forum in Davos, Switzerland.
David A. Grogan | CNBC

It sounds like Jamie Dimon has been brushing up on his Sun Tzu. The JPMorgan boss appears to be goading one of his biggest rivals into the perilous terrain of global investment banking. He suggested in an interview with Bloomberg that, if Wells Fargo wants to compete internationally, it'll have to buy a Wall Street franchise. That would recklessly push the otherwise boring lender led by John Stumpf deeper into businesses it doesn't know well.