Would you be d-mb enough to buy something Buffet was selling?
22 replies (most recent on top)
@xix+1aUVybS4 - Shut your filthy mouth.
Gordon Smith stepping down from JPM CO President and co COO position. My guess is that he will be the new CEO of Wells Fargo by next year.
Post from TheLayoff.com
It’s simple, it’s called a “beta”. Take any finance course and an economics course.
@yko+1aUVybS4 - you have a valid point . If your entry was at $26 when some hit stock grants in January, you are clearly smiling because your stock is worth 50% up.
latest news is they are brining in the people coming in thru the tx mexico border to work here; they wont need to send jobs overseas this way
Obtuse, yes. “Up” is meaningless. It’s been “up” in recent memory and still massively outperformed by the other three Big Four banks. Why people refuse to acknowledge that “up” is relative (to the market) is something I wish someone could explain to me.
Warren Buffett didn't want Wells Fargo to hire a Wall St. CEO because he knew it'd be harder to get out from under the cap. The BOD ignored Buffett's advice and now Buffet has sold off a stake he's held since 1989 because of that decision.
If Buffett is anything it's a long-term planner. The stock price may not be down now, but he knows how long it'll take before it significantly goes up. He knows Scharf hasn't done much to fix it in 18 months.
Acting like this isn't a huge slap in the face to the WF board and Chainsaw, in particular, is being obtuse.
Yes, -1.39% currently. That's hardly anything to be concerned with. Still above $47, no?
I don’t know what you are looking at, but it’s down today.
Curious that our stock price didn't move negatively on this news.
to previous poster, sounds like time to sell!
Unwinding an investment they’ve had for 31 years? Doesn’t sound good...what does he know that everyone else doesn’t?
Buffett’s lost his Midas touch . He is leaving when he should be staying . Berkshire no longer producing the kind of returns it was renowned for . This news is not a negative for Wells any more.
Berkshire has been unwinding it's position in WF for a while now. Makes sense to sell more now that the price is up relative to what it was. It barely passes for news IMO.
Berkshire pulling out from Wells? Doesn't look good but have to see.
Charlie have his guitars stolen?
More cuts is good. Lots of miserable dead wood here. They will be free from Charlie soon. Bye buh bye
Warren Buffet?
Latest news?
@fen, yes, I think you're right.
I'm worried this might mean more cuts. Many more cuts.