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This Is What Racism Sounds Like in the Banking Industry - The New York Times
By Emily Flitter
Dec. 11, 2019

This is the kind of inequitable behavior where small ripples create big waves that eventually crash heavily on people who have done nothing wrong. All other things being equal, African-Americans have been, and are, systematically not afforded the benefits and opportunities that members of other identifiable groups receive. Across millions of interactions and decades of time, this has resulted in gross disparities in both wealth and social connections, which serves to further perpetuate ancient, racist myths. When organizations like JP Morgan are caught continuing to further this indefensible, unequal treatment, it presents an ethical inflection point. Members of other groups who have been given an unfair advantage relative to African Americans have an opportunity to help correct an injustice by divesting from enterprises that have provided generations of unearned rewards.

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Lemme get this straight. A big guy walks into your firm with $825k he wants to invest. If you treat him right, he'll make money, and so will you. So you...treat him like a second-class citizen and drive him away? I thought this was the arena where free-market capitalism helps bring justice through opportunity. Guess I was wrong.

One of the many reasons that Nazi Germany lost WWII was that they couldn't resist starving and killing Jewish slaves when the military desperately needed their work product. The fog of hallucinatory racism caused the Germans to shoot themselves in the face. What's happening here is on the same continuum.
African-Americans  banking  discomforts  financial_services  JPMorgan_Chase  racism  under_appreciated  letters_to_the_editor 
10 weeks ago by jerryking
JPMorgan Invests in Startup Tech That Analyzes Encrypted Data - CIO Journal. - WSJ
By Sara Castellanos
Nov 13, 2018
(possible assistance to Robert Lewis)

JPMorgan Chase & Co. has invested in a startup whose technology can analyze an encrypted dataset without revealing its contents, which could be “materially useful” for the company and its clients, said Samik Chandarana, head of data analytics for the Corporate and Investment Bank division.

The banking giant recently led a $10 million Series A funding round in the data security and analytics startup, Inpher Inc., headquartered in New York and Switzerland. JPMorgan could use the ‘secret computing’ technology to analyze a customer’s proprietary data on their behalf, using artificial intelligence algorithms without sacrificing privacy.......One of the technological methods Inpher uses, called fully homomorphic encryption, allows for computations to be conducted on encrypted data, said Jordan Brandt, co-founder and CEO of the company. It’s the ability to perform analytics and machine learning on cipher text, which is plain, readable text that has been encrypted using a specific algorithm, or a cipher, so that it becomes unintelligible.

Analyzing encrypted information without revealing any secret information is known as zero-knowledge computing and it means that organizations could share confidential information to gather more useful insights on larger datasets.
algorithms  artificial_intelligence  corporate_investors  datasets  encryption  JPMorgan_Chase  pooling  privacy  start_ups   synthetic_data  zero-knowledge 
november 2018 by jerryking
Next Up for Amazon: Checking Accounts - WSJ
By Emily Glazer, Liz Hoffman and Laura Stevens
Updated March 5, 2018
financial_services  Amazon  JPMorgan_Chase  e-commerce 
march 2018 by jerryking
Summer Reads, Courtesy of JPMorgan - NYTimes.com
By SYDNEY EMBER JUNE 6, 2014 11:32

the complete 2014 JPMorgan reading list:

“Things a Little Bird Told Me,” by Biz Stone
“The Second Machine Age,” by Erik Brynjolfsson and Andrew McAfee
“The Metropolitan Revolution,” by Bruce Katz and Jennifer Bradley
“Talk Like TED,” by Carmine Gallo
“Thrive,” by Arianna Huffington -- "When she went around promoting it, "I found that this [sleep] is the one thing people wanted to talk to me about more than anything else in the book." A convert to the value of sleep by Simon Kuper, FT, 10 December/11 December 2016.
“Art & Place,” by the editors of Phaidon
“The Billionaire and the Mechanic,” by Julian Guthrie
“An Astronaut’s Guide to Life on Earth,” by Chris Hadfield
“Olives, Lemons & Za’atar,” by Rawia Bishara
“The Future of the Mind,” by Michio Kaku
summertime  reading  booklists  books  Arianna_Huffington  Andrew_McAfee  Erik_Brynjolfsson  JPMorgan_Chase 
june 2014 by jerryking
Unlocking Secrets, if Not Its Own Value
MAY 31, 2014 | NYTimes.com |By QUENTIN HARDY.

Founded in 2004, in part with $2 million from the CIA’s venture capital arm, Palantir makes software that has illuminated terror networks and figured out safe driving routes through a war-torn Baghdad. It has also tracked car thieves, helped in disaster recovery and traced salmonella outbreaks. United States attorneys deployed its technology against the hedge fund SAC Capital, which was also an early investor in the company....Palantir’s software has been used at JPMorgan Chase to spot cyberfraud and to sell foreclosed homes; at Bridgewater Associates to help figure out investments for its $157 billion under management, and at Hershey to increase chocolate profits. The technology is complex, but the premise is simple: The software consumes huge amounts of data — from local rainfall totals to bank transactions — mashes it together and makes conclusions based on those unlikely combinations. Where is a terrorist attack likely to occur? What is a bad financial bet?...As Palantir expands into offering services to the private sector — now perhaps 70 percent of its business — Mr. Karp’s worry is losing control of what happens with its software....“The thing Alex worries about the most is they have a culture that’s hard to sustain as it grows,” said Mr. Carville, the Democratic consultant. “I take walks around Stanford with him, and he talks about it: ‘If we become something besides Palantir, what are we?’ ”...Palantir’s founders started with an idea from PayPal. At one point, PayPal was losing the equivalent of 150 percent of its revenue to stolen credit card numbers. It figured out how computers could spot activity — like a flurry of payments to a brand new account — at a global scale. ...“The idea was to pick one bank, and the rest would follow,” Mr. Ovitz said. JPMorgan was the first. Much as Palantir figured out navigating Baghdad by analyzing recent roadside attacks, satellite images and moon phases, it derived home-sale prices by looking at school enrollments, employment trends and retail sales. Data that JPMorgan thought would take two years to integrate was put into action in eight days.

JPMorgan still uses Palantir for cybersecurity, fraud detection and other work, loading half a terabyte of data onto a Palantir system each day, according to a Palantir video. ...Government clients also struggle with a data explosion. “Everything becomes more difficult, the more crime becomes global, the more state actors are involved, the more trades there are around the globe,” said Preet Bharara, United States attorney for the Southern District of New York. “It’s malpractice to have records and not search them.” He has used Palantir for several cases, including the SAC investigation....Palantir is now Palo Alto’s biggest tenant after Stanford, occupying about 250,000 square feet in downtown buildings, which hold many of Palantir’s 1,500 employees. Contracts around the world have surged as everyone’s data increases in size and diversity.
Palantir  Silicon_Valley  CIA  security_&_intelligence  software  Michael_Ovitz  organizational_culture  massive_data_sets  Peter_Thiel  data  information_overload  cyber_security  fraud_detection  platforms  actionable_information  JPMorgan_Chase 
june 2014 by jerryking
Chinese Official Made Job Plea to JPMorgan Chase Chief - NYTimes.com
February 9, 2014, 10:06 pm
Chinese Official Made Job Plea to JPMorgan Chase Chief
By JESSICA SILVER-GREENBERG and BEN PROTESS
JPMorgan_Chase  Jamie_Dimon 
february 2014 by jerryking
Inside J.P. Morgan's Blunder - WSJ.com
May 18, 2012, 10:11 a.m. ET

Inside J.P. Morgan's Blunder
CEO Dimon Blessed the Concept Behind Disastrous Trades; 'Blood in the Water'

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By MONICA LANGLEY
JPMorgan_Chase  Jamie_Dimon 
may 2012 by jerryking
Why JPMorgan’s shocking loss isn’t all that shocking - The Globe and Mail
TIM KILADZE
From Saturday's Globe and Mail
Posted on Friday, May 11, 2012
JPMorgan_Chase  derivatives 
may 2012 by jerryking
The Bet That Blew Up for JPMorgan Chase - NYTimes.com
May 11, 2012, 8:58 pmInvestment Banking
The Bet That Blew Up for JPMorgan Chase
By PETER EAVIS and SUSANNE CRAIG
JPMorgan_Chase  investment_banking  Jamie_Dimon 
may 2012 by jerryking
Book Review: The Hedge Fund Mirage - WSJ.com
JANUARY 24, 2012 | WSJ | By GEORGE MELLOAN.

A Hazard of Fortunes: An insider's guide to the world of hedge funds—how they work and why they are likely to do better early on.

The Hedge Fund Mirage

By Simon Lack
(Wiley, 187 pages, $34.95)
hedge_funds  book_reviews  JPMorgan_Chase 
january 2012 by jerryking
Untapped and Growing, Frontier Markets Beckon - NYTimes.com
September 28, 2011, 6:42 pm Mergers & Acquisitions | Special Section Fall 2011
Untapped and Growing, Frontier Markets Beckon
By AZAM AHMED and MICHAEL J. DE LA MERCED

The education of investors has followed recognition of a pattern in frontier markets. The first deals struck are those related to commodities like oil or metals. As countries grow more advanced, consumer goods companies and media and telecommunications concerns are the next to be scooped up.
Africa  private_equity  Wal-Mart  JPMorgan_Chase  local_knowledge  Tanzania  Zimbabwe  joint_ventures  frontier_markets  emerging_markets 
september 2011 by jerryking
Asian Deal Journal: Tapping Into Private Wealth - WSJ.com
MARCH 22, 2010 | Wall Street Journal | By NISHA GOPALAN. Banks Rush to Tap Asia's Wealth
private_banking  China  India  high_net_worth  Citigroup  Barclays  UBS  HSBC  JPMorgan_Chase 
april 2010 by jerryking
Contrary Rules for Business Success
Jun. 24, 2009 | The Globe & Mail | by Harvey Schachter.
Reviews The Moneymakers, by Anne-Marie Fink, Crown Business, 310
pages, $32. Fink gets paid to separate the wheat from the chaff in the
corporate world or, to put it in business terms, separate the
moneymakers from the destroyers of shareholder value. Fink is an equity
analyst with J.P. Morgan Asset Management, she has billions of dollars
resting on her assessment of companies and their management.
equity_research  investment_research  books  rules_of_the_game  book_reviews  Harvey_Schachter  slight_edge  signals  noise  value_creation  value_destruction  shareholder_value  JPMorgan_Chase 
february 2010 by jerryking

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