2007
The first day of O'Shaughnessy Asset Management as an independent firm was July 3, 2007, which the team called OSAM Independence Day.
“So technically the first day of OSAM was July 3rd, 2007, which we called OSAM Independence Day.”
Topic
Bear Stearns
11 facts from 5 episodes, in date order. These are what speakers said on the shows, each linked to the moment it was said. They aren't independently verified.
2007
Fourteen people, not counting Patrick O'Shaughnessy, left Bear Stearns to form the founding team of OSAM.
“14 people, not including myself left bear and were the sort of foundation foundational team for OSAM.”
2008
JPMorgan acquired Bear Stearns' assets for $2 a share, and someone taped a $2 bill to the revolving door of its headquarters.
“JP Morgan acquired the assets of bear for $2 a share, somebody taped a $2 bill to the road.”
2008
In March 2008 the Federal Reserve arranged the sale of Bear Stearns to JPMorgan at $2 per share after the stock started the week near $63.
“The Fed engineers an asset sale to JP Morgan for $2 a share.”
2008
A host says Bear Stearns stock closed at $57 a share on the Thursday before its sale in March 2008, down from about $150 a couple of months earlier.
“The stock closed that day at $57 a share. It was like $150 a couple months before.”
2008
Jamie Dimon says Bear Stearns CEO Alan Schwartz called him in March 2008 asking for $30 billion before Asian markets opened.
“Jamie, I need $30 billion tonight before Asia opens.”
2008
JPMorgan first agreed to buy Bear Stearns at $2 a share and about a week later raised the price to $10, versus a prior $120.
“We bought it and then like a couple, like a week later we changed to $10 a share. It had been at $120.”
2008
Dimon says Bear Stearns had $300 billion of assets and $12 billion of tangible book value, all of which JPMorgan wrote off.
“the way to think of it is it was $300 billion of assets and a $12 billion tangible book value.”
2008
Jamie Dimon says the government made JPMorgan pay $5 billion over bad mortgages originated by Bear Stearns and WaMu.
“we bailed a lot of people out, they made us pay $5 billion on the bad mortgages”
2008
In 2008, during the financial crisis, JPMorgan acquired Bear Stearns and Washington Mutual.
“in 2008, it stepped into the center of the crisis, acquiring Bear Stearns and Washington Mutual.”
Undated
At Sun Microsystems, Leone gave Bear Stearns a budgetary quote of $2.8 million for Convex machines, and a purchase order for that amount arrived while he was on vacation.
“I gave someone a budgetary quota I hadn't met for $2.8 million.”
Episodes
- 16 Jul 2025The Jamie Dimon Interview1h 8m
- 7 Jun 2021Berkshire Hathaway Part III2h 58m
- 7 Oct 2020Special: Invest Like the Best on Acquired1h 49m
- 18 Feb 2020Sequoia Capital Part II (with Doug Leone)1h 8m
- 29 Apr 2026Live podcast with Jamie Dimon, CEO JPMorgan Chase: Corporate culture, risk and the global economy38m