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...least one prominent investor thinks Wells is doing something right. Warren Buffett's Berkshire Hathaway bought nearly 12.4 million shares of Wells Fargo stock in the first quarter, upping its stake to just over 300 million shares. In early May, Buffett told attendees at his firm's annual meeting that he thought Wells was well capitalized and had a competitive advantage over other banks. (Read "My $650,100 Lunch with Warren Buffett...
...other investors may be putting too much faith in the bank management's ability to gauge future loan losses, something no major bank has gotten right during this downturn. And if there's even a bit of disappointment, Wells Fargo shares have further to fall than its rivals. The stock trades at a price-to-book multiple of 1.6; JPMorgan, another bank deemed to be in relatively good shape, has a price-to-book of just 1. On earnings, Wells trades at 16 times its expected bottom line this year. That's better than even Goldman Sachs, which...
...seems a little bit out of your usual line. Well, actually, I manage a couple of stock portfolios or funds or whatever you want to call 'em, and I think I've done relatively well with them. My broker says I'm in the top 1% of fund managers with the results I've been having...
...Your book takes a fairly wide view of personal finance. Are some of these rules and pieces of advice things that you yourself use in investing? Some of them. What's in the book is for everybody, but primarily for the people who are not exactly sophisticated in the stock market and are wondering, What do I do with my house and my mortgage? How do I send my kids to school? How do budget principles work? It's basically what would be confronting the average person in the country. (Read "How to Invest for an Economic Rebound...
...their buildings are being used to house refugees.) "The Taliban took over the food shops and changed the locks," says Mohammad Ali, 30, who used to sell clothes in Mingora's main bazaar. "They occupied a high school to make their base there. In the town there was a stock of wheat flour that had arrived for us from the government of Punjab. The Taliban took that over also. They stole government vehicles for their...