As the markets were in turmoil and the world worried about a global recession in February 2016, Jamie Dimon was calling for calm.
The JPMorgan Chase CEO stood amid the tumult and said the market was cheap. He backed up his belief by purchasing 500,000 shares of his company's stock, which was tanking at the time.
He never actually called a market trough, but many in the market since then have referred to it as the "Dimon bottom."
Much has been made of the move and deservedly so considering the profit Dimon made on that purchase — what appears now to be a $17 million gain on a $26.6 million investment, just based on the shares purchased that day. That's based on where JPMorgan stock was compared with where it is now. And that doesn't even account for the total profit he made on his holdings.
The Feb. 11, 2016, purchase came at an average price of $53.18. The stock closed Friday at $87.18, equaling a $34 per share gain, or 64 percent.