40 bucks, 40 years and proof that Chase CEO Jamie Dimon is right

IN his provocative shareholder letter, JPMorgan Chase chief executive Jamie Dimon wrote that long-term thinking is vital and that "making important investments, in good times and not so good times," has been key to Chase's success. "These investments drive the future prospects of our company and position it to grow and prosper for decades."

That letter prompted me to look at one of my musty, old files, containing the history of how a tiny investment I made in a Detroit bank stock for journalistic reasons more than 40 years ago has morphed into JPMorgan shares. I suddenly realised that acting Dimon-Resque by reinv…