For those of you who have considerable amounts of their 401k in WF stock; what are your thoughts right now? Keep? Dump? Murphy’s law says if I reallocate, it will double, if I keep, here comes a major outage or scandal.
I’m leaning towards reallocation, very curious what the thought train is as I’d bet I’m not the only one pondering this.
Opinions are greatly appreciated, fellow WF peons.
Best
Do you think the stock is a screaming buy right now?
@4sim+1sdq52Hf "Every analyst says to “hold” or “buy” WFC at the present time."
Excuse me..... go to the Yahoo WFC page analysis https://finance.yahoo.com/quote/WFC/analysis
Under "research analysis" section you see a month by month of the analysis ratings. You will see more "holds" and "underperforms" on the stock. Further down you see the history. Note that Citigroup downgraded WFC from Buy to Neutral.
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I agree with @4sim+1sdq52Hf "Proceed with caution."
Note most analyzers are bankers themselves so I take them all with a grain of salt. There are other places besides banks to get stock analysis. Traders are one such source.
Traders range from J. Bravo https://www.youtube.com/watch?v=EU1C9LjBPDI to Raghee Horner https://www.youtube.com/watch?v=KDGBu0BrJ-Y
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If OP indeed has had a good part of WFC stock in his/her 401k from years back, OP has made quite a bit of money this year. Seems others may be a bit jealous. OP needs to be ready to reallocate on a moments notice. Every analyst says to “hold” or “buy” WFC at the present time.
Proceed with caution.
Think I will put another 50 percent of my portfolio into wfc. I smell a dividend raise in the near future and might as well capture this dividend along with the asset cap removal this thing will fly to 70-75
well hopefully they will announce a dividend shortly, this is typically when they do the 2nd quarter.
let's hope for big money!
@2sux+1sdq52Hf, it's not that simple. You don't include risky stocks in your portfolio.
it's a very basic principle of investing - diversification. Having a significant portion in any one stock is a mistake in the long run, unless your risk appetite is akin to playing the lottery with your retirement.
diversify. now.
I work at a non approved location so my days are numbered. I’m also just a few years from being able to retire. I’ve been putting a lot of thought into what to do with my retirement funds leading up to this and decided to move everything to low risk since I really can’t afford to ride out another downturn. I have just about enough to retire now so I’m playing it safe moving forward. It would have been nice to stay in a little bit longer but I don’t trust this market and I certainly don’t trust that WFC stock will continue to rise. If it does, that’s great for all of my coworkers still in.
Wow, opinions all over the place here. Jump out now, wait until the plane gets lower to the ground before jumping etc etc. Bird in the hand is worth two in the bush, let the chips ride..
If you keep Wells Fargo stock you’ve learned nothing from the Enron fiasco specifically over-concentration of risk
You also don’t understand compounding interest - clearly
Being they are doing record buybacks each quarter and will be doing even more this quarter along with the x dividend date first week of May it's a no brainer to hold imo. Also if wf fails we are all sc--wed anyways. Tech is overvalued and all recoveries must go through the banks.
If OP is genuinely asking whether to cash in or let it ride, then OP is straight up gambling with retirement money.
Best time to reallocate would have been yesterday. Next best time is today.
Dumped half
Will dump half of that soon
If young, you should be 100% in the nasdaq index
It just went up 2% today
"The SPCO removal halo is waning."
?
I wouldn't invest in my employer unless I worked for a young / fast growing company. In any other scenario there are better / less risky options. Sure, there's been some up/down, but the stock is basically bounced around the same general area for a decade, and market cap has dropped significantly. Growth prospects stink. Every once in a while people that want to invest in banks look around and think "huh, the other big banks have their value priced in, but WF has been lagging, could be an opportunity..." and short term they might be right. Longer term the fools in NYC are doing all the wrong things and it will end as expected.
Below is an article from 2022, but I think historically Warren Buffett has been making good investment decisions.
"Warren Buffett and Berkshire Hathaway Are Done With Wells Fargo. Should You Follow Their Lead?"
https://www.fool.com/investing/2022/05/20/warren-buffett-berkshire-hathaway-done-wells-fargo/
Taking any stock advice from a site like this is not recommended. I follow a site called Slopeofhope.com if you are interested in outside perspective. They break down the broad markets and also analyze individual stocks and are showing a weakening market overall. Go-k luck to all of us!
Cramer and Kramer are similar in name and idiocy.
Kramer Not so fast. Certain "pretender" tech stocks (Apple, Meta) are falling. Others are rising.
Assuming your asset mix is over allocated to wfc stock, it’s made a nice move so sell some of it , but hang onto a portion since it’s moving higher. Tech stocks are falling now so move some of that into tech.
I still have a chunk of stock. just siting on it. we have danced into the split area, and then backs away.
hope springs eternal.
Same as all the other responses. Sell it asap. All about risk and exposure.
Because I started at the bank very young, was stupid and didn't know what the h3ll I was doing and didn't care to care until later.
Serious answer.
If you get laid off or have been laid off... rollover your 401K to a SEP. Open a SEP account in Fidelity, Schwab, IB, etc. Transfer your stocks and funds from your EPower account to your new SEP. Then I would do what Mike Mayo suggested today. Get out of it and invest in Citibank. (If you want to stay in banks of course).
I keep exactly zero of my 401k in WF stock.
You have enough WF risk just by working there. Get out of it. The SPCO removal halo is waning.
Current stock price is not sustainable in my opinion and you should be more diversified anyway so take the profit and reallocate your portfolio.
No one ever went broke taking profits
Who in the h*II has WF stock in any portfolio? Especislly if you work at WF (risk exposure).
Serious question.