New Delhi, Feb. 24 -- JPMorgan Chase CEO Jamie Dimon said on Monday that some financial firms were doing 'dumb things' and revealed his strategy while navigating the investment market at a time he said reminded him of the pre-2008 crisis years.

Speaking at an annual investor update meet, Dimon noted that the credit cycle is full of surprises.

"There's always a surprise in a credit cycle," the JPMorgan Chase CEO said, adding that the "the surprise has often been which industry" is impacted most.

"You didn't expect utilities and phone companies in '08, '09, and this time around, it might be software, because of AI," Dimon added.

His comments come at a time when software stocks are experiencing a bloodbath at global markets amid fears th...