All—if you can hurry and do so before market close today in 30 minutes, it’s a GREAT day to rebalance/diversify out of the WFC shares you got as your match. WFC is flat but major indexes are down—you might move it for now into the NASDAQ-tracking index fund, which is down over 2%.
25 replies (most recent on top)
It's me, the guy with the first reply. Of course I was right. 60+ Smackaroos in record time. ;)
"Amazing how ignorant people are of opportunity cost."
Such a big blanket statement about opportunity cost makes YOU ignorant.
Whether market timing is ever a viable investment strategy is controversial. Some may consider market timing to be a form of gambling based on pure chance, because they do not believe in undervalued or overvalued markets. The efficient-market hypothesis claims that financial prices always exhibit random walk behavior and thus cannot be predicted with consistency.
Wow....I remember reading this thread back in January and not thinking too much about it. What a great call-back. And the first response to the thread with all the downvotes is fanfreakingtastic! Not sure who the poster was, but it was spot on man.
“ That’s exactly one of several reasons WF is highly unlikely to hit $60 any time soon. WF cannot keep itself from scandals, let alone get out from the asset cap. Add in the current terrible leadership driven toxic culture and we’re ripe to not see $60 again for many years (IF that!).”
Great analysis!!
Great thread!
Congratulations on missing out on a 20 percent return + dividend by listening to the OP and so many clowns on here.
Opportunity cost:
Dump WF stock.
Invest in a faster racehorse.
It was 60 dollars 2 years ago as well. Make sure to bookmark this thread and revisit and compare to your market performance.
I think what you meant to say was "claw it's way back to $60, where it was 6 years and a ton of inflation ago". There will be no layoff bounce for this cr-ppy stock beyond what we've already seen. It's baked in at this point because they've telegraphed the move.
I'm just glad that the 2023 match is the last time I'll have to own WFC. This year's match, if any of us are still here to collect it, will be properly invested from the get go.
Timing the market is always a strong strategy.
Thank you to the OP on this one. I read the recent email comm way too fast and misunderstood the timeline of when the esop match goes away (thought it began with this recent match, not starting next year).
It's a good reminder to always read the overlong WF comms, unfortunately.
"Amazing how ignorant people are of opportunity cost. "
Even more amazing is folks like you who are ignorant of other peoples plans, assuming your own investment strategy outweighs someone else's without knowing what they are doing. What to pretend you're intelligent on an Anon board. lol
People, move ESOP to cash. There will be more opportunities to buy Nasdaq in late Jan/Feb.
Click on My Investments
Look for ESOP fund - this is your match
Click on Change My Investments
Then Trade Specific Funds
Choose ESOP for Transfer From
And
Wells Fargo Stable Value Fund for Transfer To
Choose 100% for both
Click on submit
Amazing how ignorant people are of opportunity cost.
Invest your money in winners now. Don't wait for losers to somehow magically improve in several years, so your money languishes until then (or forever).
ah man, wish Inhad seen this earlier
"WF cannot keep itself from scandals, let alone get out from the asset cap. Add in the current terrible leadership driven toxic culture and we’re ripe to not see $60 again for many years"
Which is why Charlie is relying on the reduction of headcount to increase profits. He's already said the asset cap will extend into 2025 -- and it was put into place five years ago!
How would I know if I have WF stock? Where would I see it? I see Nasdaq in my 401k.
Post ID: @czy+1qnp4th9
“Just say your prayers more bad news doesn't come out about the company.“
That’s exactly one of several reasons WF is highly unlikely to hit $60 any time soon. WF cannot keep itself from scandals, let alone get out from the asset cap. Add in the current terrible leadership driven toxic culture and we’re ripe to not see $60 again for many years (IF that!).
@czy
Waiting for WF stock to hit 60 is ludicrous.
If you know anything about the concept of opportunity cost, you'd never hold WF stock. NEVER EVER include that dog in your holdings. Scandals and mismanagement plågue this dustbin and it's in a dëäth spiral.
First thing I did when market reopened today was trade that WF ESOP $$$. I didn't want to see that stain in my portfolio for a minute longer.
"You're going to wait around until WFC hits 60? Please, proceed..."
Until I get laid off or decide to go into cash. I'm fine with a drawdown to 44 dollars and we're fairly limited to what we can own in 401k.
Sold off my other holdings once market recovered mid to end of 2020 and loaded up on WFC. It has outperformed the markets since. What have you done?
Fingers crossed.....
"WF will be revisiting 60 dollars in the next year as it'll be rewarded for layoff."
You're going to wait around until WFC hits 60? Please, proceed...
My absolute favorite activity is selling WF stock!
Sell strength and buy weakness? WF will be revisiting 60 dollars in the next year as it'll be rewarded for layoffs. Just say your prayers more bad news doesn't come out about the company.