[{"data":1,"prerenderedAt":-1},["ShallowReactive",2],{"detail-sidebar-cat-1-en-105":3,"doc-seo-255962-105":53,"doc-detail-255962-en":127},{"code":4,"msg":5,"data":6},0,"success",[7,14,19,24,29,34,39,44,49],{"id":8,"doc_module":9,"doc_module_name":10,"category_name":11,"show_sort_weight":12,"slug":13},11,1,"Template","Presentations",90,"presentations",{"id":15,"doc_module":9,"doc_module_name":10,"category_name":16,"show_sort_weight":17,"slug":18},12,"Resumes",80,"resumes",{"id":20,"doc_module":9,"doc_module_name":10,"category_name":21,"show_sort_weight":22,"slug":23},14,"Invoices",70,"invoices",{"id":25,"doc_module":9,"doc_module_name":10,"category_name":26,"show_sort_weight":27,"slug":28},15,"Posters",60,"posters",{"id":30,"doc_module":9,"doc_module_name":10,"category_name":31,"show_sort_weight":32,"slug":33},16,"Social Media",50,"social-media",{"id":35,"doc_module":9,"doc_module_name":10,"category_name":36,"show_sort_weight":37,"slug":38},17,"Forms",40,"forms",{"id":40,"doc_module":9,"doc_module_name":10,"category_name":41,"show_sort_weight":42,"slug":43},18,"Letters",30,"letters",{"id":45,"doc_module":9,"doc_module_name":10,"category_name":46,"show_sort_weight":47,"slug":48},21,"Paper Templates",5,"papers-templates",{"id":50,"doc_module":9,"doc_module_name":10,"category_name":51,"show_sort_weight":4,"slug":52},158,"General","general-158",{"code":4,"msg":54,"data":55},"ok",{"site_id":56,"language":57,"slug":58,"title":59,"keywords":60,"description":61,"schema_data":62,"social_meta":120,"head_meta":122,"extra_data":124,"updated_unix":126},105,"en","jp-morgan-fortress-loftus-perspectives-may-1st-2024","JP Morgan - Fortress Loftus - Perspectives May 1st, 2024","","A perspective dated May 1st, 2024 argues that true value in business literature is rare, yet a free and continually updated reservoir of high-quality insights exists in annual report cover letters. It recommends copying and reading entrepreneurially credible C-suite executives’ letters in chronological order to gain broad coverage across industries, models, and countries. JP Morgan’s CEO letter for the 2023 financial year is highlighted as a comprehensive, highly effective case study. Practical guidance emphasizes selecting discerning sources among leading global businesses.",{"@graph":63,"@context":119},[64,80,102],{"@type":65,"itemListElement":66},"BreadcrumbList",[67,71,74,77],{"item":68,"name":69,"@type":70,"position":9},"https://docshare.wps.com","Home","ListItem",{"item":72,"name":10,"@type":70,"position":73},"https://docshare.wps.com/template/",2,{"item":75,"name":41,"@type":70,"position":76},"https://docshare.wps.com/template/letters/",3,{"item":78,"name":59,"@type":70,"position":79},"https://docshare.wps.com/template/jp-morgan-fortress-loftus-perspectives-may-1st-2024/255962/",4,{"url":78,"name":59,"@type":81,"image":82,"author":87,"headline":59,"publisher":90,"fileFormat":93,"inLanguage":57,"description":61,"dateModified":94,"datePublished":95,"encodingFormat":93,"isAccessibleForFree":96,"interactionStatistic":97},"DigitalDocument",{"url":83,"@type":84,"width":85,"height":86},"https://docshare.wps.com/thumbnails/jp-morgan-fortress-loftus-perspectives-may-1st-2024/255962.png","ImageObject",442,249,{"name":88,"@type":89},"Jake","Person",{"url":68,"name":91,"@type":92},"DocShare","Organization","application/pdf","2026-10-30","2026-09-13",true,{"@type":98,"interactionType":99,"userInteractionCount":101},"InteractionCounter",{"@type":100},"ViewAction",7,{"@type":103,"mainEntity":104},"FAQPage",[105,111,115],{"name":106,"@type":107,"acceptedAnswer":108},"What does the document identify as a valuable alternative to expensive business books?","Question",{"text":109,"@type":110},"It describes a free global reservoir of business books found in real time through annual report cover letters written by successful entrepreneurial executives.","Answer",{"name":112,"@type":107,"acceptedAnswer":113},"What reading method does the document recommend?",{"text":114,"@type":110},"It recommends copy-pasting cover letters in chronological order into a single “book” to systematically learn across years and lessons.",{"name":116,"@type":107,"acceptedAnswer":117},"Why does the document highlight JP Morgan’s CEO cover letter?",{"text":118,"@type":110},"It presents Jamie Dimon’s leadership and the annual publication of a comprehensive cover letter, calling the 2023 financial-year letter 60 pages of highly valuable material.","https://schema.org",{"og:url":78,"og:type":121,"og:title":59,"og:site_name":91,"og:description":61},"article",{"robots":123,"canonical":78},"index,follow",{"doc_id":125,"site_id":56},255962,1790993748,{"code":4,"msg":5,"data":128},{"doc_id":125,"user_id":129,"nickname":88,"user_avatar":130,"doc_module":9,"category_id":40,"category_name":41,"doc_title":59,"doc_description":61,"doc_content":131,"file_id":132,"file_url":133,"file_type":134,"file_size":135,"view_count":101,"is_deleted":4,"is_public":9,"is_downloadable":9,"audit_status":9,"page_count":73,"language":136,"language_code":57,"site_id":56,"html_lang":57,"table_of_contents":137,"faqs":138,"seo_title":139,"seo_description":61,"update_tm":140,"read_time":9},962084928904,"https://ap-avatar.wpscdn.com/davatar_155a257f0dc6eb9ab79c44ca47cae57d","JP Morgan – Fortress Loftus  \nPerspectives: May 1st, 2024  \nThere are some truly outstanding business books worth investing in, studying, and returning to periodically. I place the emphasis on the word ‘some’, because it is so rare that one passes the keeper test. This annoys me somewhat, because business books are super expensive, they are almost always written with the benefit of perfect hindsight, at a single point in time, often by a professional biographer, and taken together they deliver a low RoS [Return on Sweat].  \nHowever, thankfully many years ago, we found something wondroushidden, but in plain sight. We just needed to figure out how and where to look for it. The big ‘secret’ is that there exists a guaranteed free global reservoir of business books, written in real time, by wildly successful entrepreneurial people, in their own hand, with new chapters being added every single year, and that is never a waste of time. It delivers a mile high RoS. And did I mention that it is free?  \nWithout further ado, the answer is to copy paste, in chronological order, into a ‘book’, the cover letters written by entrepreneurially credible C-suite executives of listed businesses. It is available online near the front of each annual report to shareholders. It covers every business model, every industry, and every country. It also covers every important aspect of doing business, sometimes even including mistakes made and lessons learnt. No tricks, no BS, no cost, no barriers to entry-literally anyone, anywhere, can easily do this. It is a treasure. There is one important caveat – to be discerning in selecting who to read. A simple clue – start with any of the best global businesses that you can think of, from any industry or country.  \nI submit that Jamie Dimon, the Chair and CEO of the well known US banking business, JP Morgan, is an excellent case study. Why should we consider paying attention to this person? Because, since 2005 he has been the clear lead architect of creating a hugely successful global financial services  \nenterprise, operating in over 100 countries, doing business with over 90% of Fortune 500 businesses, daily moving nearly US$10tn in over 120 currencies and between 160 countries. He literally sits atop a giant global network of accurate real time information sourced directly from the coalface of every industry and every country.  \nHowever, what makes him ‘special’, in our way of thinking, is that he makes an extraordinary effort each year to write a comprehensive cover letter that is published in every annual report to shareholders. The latest one for their 2023 financial year was published recently, and it is 60 pages of pure magic. I dare not attempt to summarize it, because, quite frankly, it is really that good. I recommend it to you-in its entirety. Here is a link.  \n[https://www.jpmorganchase.com/content/dam/jpmc/jpmorgan-chase-and](https://www.jpmorganchase.com/content/dam/jpmc/jpmorgan-chase-and)co/investor-relations/documents/ceo-letter-to-shareholders-2023.pdf  \nOur work continues…  \nDaniel Malan. CFA  \nFounder, Managing Director & Chief Investment Officer  \n[daniel@perspectiveim.co.za](daniel@perspectiveim.co.za)  \nPerspective Investment Management  \n[www.perspectiveim.co.za](www.perspectiveim.co.za)  \nThis document reflects the personal views of its author as of the date indicated. The author reserves his right to change his views whenever the facts change, without notice. This document is for information purposes only and should not be used for any other purpose. The information contained herein does not constitute an offering of advisory services or an offer to sell or solicitation to buy any securities or related financial instruments in any jurisdiction. Unless otherwise indicated, all data and charts are sourced from Refinitiv, company annual reports, and Perspective analyst calculations. Perspective Investment Management (Pty) Ltd is an authorised financial services provider, FSP 47672.","cbCaisdG7x6V3ivA","https://ap.wps.com/l/cbCaisdG7x6V3ivA","pdf",246677,"English","# JP Morgan - Fortress Loftus\n## Perspectives May 1st, 2024\n## The value of free business book reservoirs\n## Copy-paste reading method\n## Why JP Morgan is a strong case study\n## Disclaimer and sourcing notes","[{\"question\":\"What does the document identify as a valuable alternative to expensive business books?\",\"answer\":\"It describes a free global reservoir of business books found in real time through annual report cover letters written by successful entrepreneurial executives.\"},{\"question\":\"What reading method does the document recommend?\",\"answer\":\"It recommends copy-pasting cover letters in chronological order into a single “book” to systematically learn across years and lessons.\"},{\"question\":\"Why does the document highlight JP Morgan’s CEO cover letter?\",\"answer\":\"It presents Jamie Dimon’s leadership and the annual publication of a comprehensive cover letter, calling the 2023 financial-year letter 60 pages of highly valuable material.\"}]","JP Morgan - Fortress Loftus - Perspectives May 1st, 2024 | PDF",1789296321]