JPMorgan’s Playbook for a 10-15% Correction (or Worse) — ft. Michael Cembalest

Nov 21, 2025
1h 8m

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Episode Description

Ed Elson and Scott Galloway are joined by Michael Cembalest, the Chairman of Market and Investment Strategy for J.P. Morgan Asset & Wealth Management, to discuss how J.P. Morgan is approaching the AI bubble. He weighs in on how violent the correction will likely be, shares how he’s preparing for a “profit taking spark,” and unpacks his top risks for 2026. 

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