“He has an amazing sense of risk,” says his former colleague at Smith Barney, Bob Lessin, currently vice chairman of investment bank Jeffries & Company.
“He understands it intuitively better than anyone alive, so he doesn’t do stupid things.
The industry has a recent history of dramatically mis-pricing risk relative to return.
Jamie never fell for that.
If you want one phrase to describe him, that’s it.”
from 'Last Man Standing' by Duff McDonald https://www.amazon.com/dp/B003YCOTP8