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One of the country’s largest banks, Wells Fargo provides retail, commercial, and corporate banking services and is a leading residential mortgage lender.
Hopefully, i'm not too late for the party.
I would say your are not. Tuesday and Wednesday I bought WFC. 100% of my portfulio now $34.87 cost basis. I sold BRK.B, TSCDY, and NSC my only three holdings at the time. I had my best year ever last year with just over a 68% return. BAC made most of my gains. Big earnings day today. Frankly I could care less if the stock goes up or down. What I do know is WFC will have another record quarter and a record year. And this year will be even better. You know what record earnings equate too? Record stock price. Maybe not today or tomorrow but eventually price has to follow earnings.... and WFC is killing it when it comes to earnings!Full disclosure.... Long WFC
Wow that's an incredible return. Congrats. Can I ask what you've annualized over your career, and over how many years?
Agreed. I recently picked WFC to outperform as well. They are excelling in the investment banking side of their business and are able to write off much less in bad debt. I'm hoping this trend will continue and the additional regulation will have some positive effects, such as stability and quality/more efficient loans relative to expensive, that help their P/E of 10 prove to be underpriced.
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