So, one of the great things about writing a blog is that I get feedback from some pretty intelligent people. Most of us don’t have a Munger to call, but a blog works well too. If I say something wrong, I’m sure someone would jump in to point it out. 10% Pretax for Stocks Too?…
Tag: WFC
Buffett the Market Timer? Part 5: The Berkshire Years 2005-2013
OK, so here we go. Hopefully this will be the last part in this marathon series. BRK LTS 2005 So 2005 turns out to be an interesting year. After years of not doing much in the stock market, Buffett initiates positions in Anheuser-Busch, Walmart, and “substantially” increases his position in Wells Fargo. It’s been a…
13% and 15% Pretax Returns Now!
Banks/financials have been announcing earnings and they have been looking pretty good even though there is debate about the quality of some of the earnings (reserve releases etc.). There is a lot to talk about but I just thought I’d make a quick update on Wells Fargo (WFC) and J.P. Morgan (JPM) as I have…
Wells Fargo History Website
OK, so maybe I’m the last person on the planet to notice this, but I just found this website by accident (trying to find the WFC 2012 annual report). It looks like it was put up recently (?). So Loews puts up a comic book, JPM puts up a nice promotional video, but WFC tops…
Mr. Market versus Mr. Buffett
Not to beat a dead horse, but this Wells Fargo situation kept lingering in my mind so I thought I’d make this followup post. It is well understood by value investors but since I have a pretty wide readership in terms of stock market experience, I thought I’d post this because there is something to…
Wells Fargo is Cheap!
OK, so in my last post I commented that WFC is a great bank but is fully valued. This thought stuck to my mind over the weekend. Sometimes when I write something (whether blog or email), what I write bounces around in my head and I have second thoughts about it long after I hit…
Financials Still Look Good: Part 2
Bank of America (BAC) BAC announced earnings too, and things there are looking interesting. Like other banks, there is a problem with NIM pressure. But the investment bank / brokerage business seems to have done really well. I won’t go into any details here, but I just want to jot down what I was looking…
Financials Still Look Good: Part 1
JP Morgan Earnings So JPM announced earnings and things look pretty good to me. Sure, there is still steady NIM pressure and this will be an issue this year too. I think they said it will be a $400 million or so headwind in 2013. But otherwise, things look pretty good. I know people say…
Wells Fargo-Goldman Sachs Merger
(Warning: The above title is a title of a blog post, not a news headline!) OK, so I asked in my last post if GS would be better off as part of a bigger bank and I couldn’t put that thought away. In the past there were rumored merger partners like Wachovia (that was just…
Wall Street Firms Only for Employees?
So I keep hearing people say that Wall Street firms exist only for their employees. One guy on Bloomberg TV said that GS only exists for it’s employees; why not get that compensation down and return some of it to shareholders? As proof that GS exists only for the employees, he states that compensation is…