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Dimon at Dealbook: No Better Investment than U.S.

Andrew Sorkin of Dealbook and The New York Times is hosting a big-time event in New York City today. There’s plenty of hot air and egos — but some of the comments from JP Morgan Chase (NYSE:JPM) CEO Jaime Dimon are noteworthy even if they should be taken with a grain of salt.

Most interesting: Dimon is bullish generally on stocks and the American economy, and has a few particular areas of interest for 2013 that investors should take note of.

Here are the highlights:

Dimon Likes Regulation: Don’t think that Dimon wants free rein for the financial sector. “We want strong effective regulations. It’s better for industry, it’s better for everyone.” He went on to say that regulators are very necessary. “A lot of things have to be done by them, they can’t be done by the industry … they can dictate all the firms have to do it.”

Optimism About the Fiscal Cliff: Dimon believes lawmakers will almost certainly act before the end of the year. (Of course, he was followed up by entrepreneur Marc Andreessen who actually advocated we go over the cliff and embrace “gridlock” …  so there’s that)

Bullish on America: “Know where the best opportunities are?” Dimon asked at one point, knocking on the table next to him. “It’s right here.” He mentions other markets like China and India, too, but says that with some good policy decisions and a return to confidence, 2013 could see 4% GDP growth and easily 200,000 new jobs created each monthly now that consumers are bouncing back and the housing market has stabilized.

No Political Aspirations: when asked about his relationship with the White House, Dimon responded with a terse “it’s fine” that got a few chuckles from the crowd. He also said about the suggestion of becoming Treasury Secretary: “I’m flattered, but I’m not suited to it.”

Fracking Revolution Presents a Particular Opportunity: Dimon says experts consider the process safe – “certainly safer than deep drilling in the gulf, safer than going overseas to fight wars” – and full of promise.

Read a full roundup of Dimon’s commentary here on Dealbook. There’s also a great recap in much shorter form from Joe Weisenthal here on Business Insider.

Jeff Reeves is the editor of InvestorPlace.com and the author of “The Frugal Investor’s Guide to Finding Great Stocks.” Write him at editor@investorplace.com or follow him on Twitter via @JeffReevesIP.

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