Wells Fargo has been in the news for all the wrong reasons over the past month.
It's no secret that Warren Buffett is a major shareholder in Wells Fargo, how will he respond to the recent developments? Should other investors follow suit?
I sit down with seasoned banker Rick Parsons to learn more.
A quick overview:
- Why Buffett originally bought Wells back in the late 1980s.
- Why he sold in the late 1990s and bought again in early 2000s.
- How he made a bad move with Wells in 2007.
- What he will likely do with his Wells position going forward.
- A simple measure to guide investors as to when it's a good time to buy bank shares.
- How the banking climate has changed.
- Why an increase in interest rates won't help banks like so many people expect.
- What banks will benefit from rising rates.
- What Rick's favorite banks are right now.
Companies Mentioned: Wells Fargo (WFC), Berkshire (BRK.B), PNC (PNC), Huntington (HBAN), Bancorp (FITB), Chase (JPM), Comerica (CMA)
I hope you enjoy the interview.