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goldminingXpert (29.40)

Wells Fargo

Recs

17

October 26, 2009 – Comments (17) | RELATED TICKERS: WFC

will be bankrupt within 15 months. That's all.

17 Comments – Post Your Own

#1) On October 26, 2009 at 2:19 PM, chk999 (99.97) wrote:

Umm, not to belabor the obvious, but there is this guy in Omaha that maybe knows his way around a balance sheet that doesn't agree with you.

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#2) On October 26, 2009 at 2:24 PM, PeteysTired (< 20) wrote:

Who cares about the Omaha dude; he doesn't have enough money to make a difference. 

But Ben will come to the rescue.  They have more money than God!

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#3) On October 26, 2009 at 3:06 PM, jstegma (29.16) wrote:

BS.

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#4) On October 26, 2009 at 3:22 PM, Bays (30.15) wrote:

OK...

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#5) On October 26, 2009 at 3:36 PM, kdakota630 (29.49) wrote:

I'm ever so curious how you came up with the 15 month time frame.

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#6) On October 26, 2009 at 4:05 PM, dudemonkey (39.88) wrote:

That's a pretty bold statement.  I don't have an opinion on this one way or the other, but I'm curious as to how you came to such a conclusion. 

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#7) On October 26, 2009 at 4:08 PM, MattH42004 (30.13) wrote:

dudemonkey

"I'm curious as to how you came to such a conclusion."

I'm betting on something along these lines... 

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#8) On October 26, 2009 at 4:32 PM, nottheSEC (79.20) wrote:

Ok i'm game so WFC JAN 2011 $2.50 PUT good deal at a nickle with low risk? 20 contacts is $100. Just floating an idea and +1 rec on the thought.....J

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#9) On October 26, 2009 at 7:00 PM, goldminingXpert (29.40) wrote:

Must admit, that thought hadn't occured to me. Good idea nottheSEC.

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#10) On October 26, 2009 at 7:05 PM, starbucks4ever (97.71) wrote:

Almost certainly not, but I don't care one way or the other. 

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#11) On October 26, 2009 at 8:37 PM, Tastylunch (29.22) wrote:

c'mon GMX  what does that even mean anymore?

I mean Citigroup was bascially bankrupt over a year ago and they are still "here"

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#12) On October 26, 2009 at 11:44 PM, clanza875 (32.45) wrote:

I'll take that action

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#13) On October 26, 2009 at 11:57 PM, checklist34 (99.69) wrote:

my WFC is currently collared.  long put, short call, long shares.  No longer possible to not double my money + on it.  :)

but frankly, too big to fail has been pretty well established, Buffet was a buyer earlier in the year and while he isn't as great of a stock investor as myth likes to tell (most of Berkshires money comes from buying businesses, not from buying stocks) he isn't an idiot or uninformed.

Stifel has a buy on them.  Their PPS is high enough for a secondary to be tolerable (it would be accretive to book value).

The market doesn't seem to price in a potential bk and so far the market hasn't really missed any potential bk's in 2009.  

All those noted,  its not a favorite long of mine.

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#14) On October 27, 2009 at 12:36 PM, bothisellhigher (28.92) wrote:

Look closer Matt and one sees that all final resting places for the headless chicken support GMX's hypothesis.  I say, render what is left of the bloody chicken down to bones, throw them, and you get the same answer...the big boy banks as they have been will be no longer.

 

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#15) On October 27, 2009 at 4:42 PM, alexpaz (28.89) wrote:

They are technically "insolvent", but no they won't be bankrupt. They will however need to raise additional capital by July 2010. It's a really bold call considering WFC is blessed by Buffet, shouldn't that have some sort of value?

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#16) On October 27, 2009 at 5:06 PM, GenericInvestor (89.09) wrote:

"the s&p is about to collapse... day 78"

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#17) On October 27, 2009 at 6:03 PM, EV38 (99.76) wrote:

Too bad your WFC put options go bankrupt in 3 months. Along with a few others.

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