"If you know Dimon’s actual reputation, him getting suckered isn’t surprising. From what I heard back in 2009, Dimon is a mediocrity who essentially got lucky h

"If you know Dimon’s actual reputation, him getting suckered isn’t surprising. From what I heard back in 2009, Dimon is a mediocrity who essentially got lucky his bank was too slow to get in on the subprime scam in 2006; he then used his bank’s incompetence at getting into the bubble as justification for how prudent he was." I take issue with this. Nothing to do with Dimon or the subprime crisis particularly but rather, what I think is an important logical fallacy. I think (hope) there is a formal name for this - please correct me - but I internally label it the "missed extra point fallacy": "My team played better but they had a weird, missed extra point and so they lost the game - but they are certainly the better team." This is wrong thinking, in my opinion. There was a game. The game had rules. People participated. The team with the highest score when the game ended was, by definition, the better team. I don't know how much credit one should receive for not being wiped out by the subprime crisis, etc., but however much credit that is, Jamie Dimon should get it.