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buffett's favourite bank, any taker?

trading at 1.3 book

with the QE3, banks gonna go hard ??

In my humble opinion, Wells Fargo has the highest quality management of any large US Bank and their conservatism has proven highly valuable during a time when several others in the banking sector have seen dire falls in their share price and their credibility.

Wells Fargo leaders do not beat their chests or make rash promises - you will not see Wells Fargo CEO's appearing regularly on CNBC and the like. I believe that is a positive.

Just my two cents worth.

Vested

(18-10-2012, 05:30 PM)ikur1 Wrote: [ -> ]buffett's favourite bank, any taker?

trading at 1.3 book

with the QE3, banks gonna go hard ??

thoughts on valuation of wfc?

it is quite a funny thing that few people take buffett seriously... if i am just entering the society, just started working now, i would put all my surplus funds into wfc..

it is the only bank that buffett has been buying non stop even at today's price. And yet many so called value-investors have more confidence in their buying of NOL or wilmar or noble or capitaland or smrt or olam or sph

if buffett is buying today, i think it is the best endorsement that the bank is good. Talking about valuation, how many of us truely understand it better than buffett and yet sometimes we tend to think we are damn smart

(10-11-2012, 11:10 AM)money Wrote: [ -> ]it is quite a funny thing that few people take buffett seriously... if i am just entering the society, just started working now, i would put all my surplus funds into wfc..

it is the only bank that buffett has been buying non stop even at today's price. And yet many so called value-investors have more confidence in their buying of NOL or wilmar or noble or capitaland or smrt or olam or sph

if buffett is buying today, i think it is the best endorsement that the bank is good. Talking about valuation, how many of us truely understand it better than buffett and yet sometimes we tend to think we are damn smart

I'm a big fan of Warren Buffett but that doesn't mean I'll follow what he buys...blindly. I may as well just buy BRK... Reason? Different area of competence. Warren Buffett is American and naturally, his strongest area of competence would be in US cos. In our case, many here are either Singaporeans or based here. We'd be a lot more familiar with SGX listed cos. A small nos. here would be familiar with US cos. (like yourself) and yes, if it's within your circle of competence, why not? In my case, I previously don't even know WFC is a bank, sounds more like the short form for a Football Club or some Wrestling Federation.....

(10-11-2012, 11:28 AM)KopiKat Wrote: [ -> ]

(10-11-2012, 11:10 AM)money Wrote: [ -> ]it is quite a funny thing that few people take buffett seriously... if i am just entering the society, just started working now, i would put all my surplus funds into wfc..

it is the only bank that buffett has been buying non stop even at today's price. And yet many so called value-investors have more confidence in their buying of NOL or wilmar or noble or capitaland or smrt or olam or sph

if buffett is buying today, i think it is the best endorsement that the bank is good. Talking about valuation, how many of us truely understand it better than buffett and yet sometimes we tend to think we are damn smart

I'm a big fan of Warren Buffett but that doesn't mean I'll follow what he buys...blindly. I may as well just buy BRK... Reason? Different area of competence. Warren Buffett is American and naturally, his strongest area of competence would be in US cos. In our case, many here are either Singaporeans or based here. We'd be a lot more familiar with SGX listed cos. A small nos. here would be familiar with US cos. (like yourself) and yes, if it's within your circle of competence, why not? In my case, I previously don't even know WFC is a bank, sounds more like the short form for a Football Club or some Wrestling Federation.....

Totally agree, never follow blindly!

but i think for the typical guy on the street, there is a higher chance that you will make decent returns from blindly following buffett's top 5 equity holdings than try to make his or her own decision

I disagree. One have to lose money to learn effectively. But in the first place, one has to be willing to learn too

(10-11-2012, 11:28 AM)KopiKat Wrote: [ -> ]

(10-11-2012, 11:10 AM)money Wrote: [ -> ]it is quite a funny thing that few people take buffett seriously... if i am just entering the society, just started working now, i would put all my surplus funds into wfc..

it is the only bank that buffett has been buying non stop even at today's price. And yet many so called value-investors have more confidence in their buying of NOL or wilmar or noble or capitaland or smrt or olam or sph

if buffett is buying today, i think it is the best endorsement that the bank is good. Talking about valuation, how many of us truely understand it better than buffett and yet sometimes we tend to think we are damn smart

I'm a big fan of Warren Buffett but that doesn't mean I'll follow what he buys...blindly. I may as well just buy BRK... Reason? Different area of competence. Warren Buffett is American and naturally, his strongest area of competence would be in US cos. In our case, many here are either Singaporeans or based here. We'd be a lot more familiar with SGX listed cos. A small nos. here would be familiar with US cos. (like yourself) and yes, if it's within your circle of competence, why not? In my case, I previously don't even know WFC is a bank, sounds more like the short form for a Football Club or some Wrestling Federation.....

agreed, and let me add-on

With the AUM of BRK, there are fewer choices for WB to invest. There are more limitations on a huge fund manager vs a small private investor like us e.g. company market cap, liquidity etc.

Wells Fargo profit rises 1.7 percent, mortgage originations increase

Wells Fargo & Co , the fourth largest U.S. bank and biggest mortgage lender, reported a 1.7 percent rise in third-quarter profit as its mortgage business became less of a drag.

The San Francisco bank's net income applicable to common shareholders rose to $5.41 billion, or $1.02 per share, in the three months ended Sept. 30 from $5.32 billion, or 99 cents per share, a year earlier.

Revenue rose 3.6 percent to $21.21 billion. Mortgage originations rose by $1 billion to $48 billion. REUTERS
http://www.todayonline.com/business/well...s-increase

5,300 Wells Fargo employees fired over 2 million phony accounts
http://money.cnn.com/2016/09/08/investin...index.html