|New Threads Only:|
|New Threads & Replies:|
Forum List » Guru News and Commentaries|
Guru News, Stock picks and commentaries
Ex-CEO of Wells Fargo Richard Kovacevich Discusses Fiscal Cliff Deal: Nothing Has Been Done
Posted by: Dheeraj Grover (IP Logged)
Date: January 4, 2013 09:19AM
One of the companies Warren Buffett has admired and put lot of his investing dollars into is Wells Fargo (WFC). The prime reason beyond WFC being cheap that Buffett's building such a huge position in WFC is his appreciation for its management. Buffett has always admired Wells Fargo's management for its shareholder friendliness. Here is the video of Wells Fargo's Ex-CEO Richard Kovacevich reacting to the Fiscal Cliff deal. He explains in very layman terms the fiscal situation of the U.S. and if this fiscal deal has achieved something in reining in the deficit. His conclusion: "Nothing has been done." He said, "I'm stunned and shocked that basically, nothing has been done." He also said the current tax deal shows "our country is going to hell."
Credit and source: www.cnbc.com, CNBC
Here is the video:
Stocks Discussed: WFC,
Disclaimers: GuruFocus.com is not operated by a broker, a dealer, or a registered investment adviser. Under no circumstances does any information posted on GuruFocus.com represent a recommendation to buy or sell a security. The information on this site, and in its related newsletters, is not intended to be, nor does it constitute, investment advice or recommendations. The gurus may buy and sell securities before and after any particular article and report and information herein is published, with respect to the securities discussed in any article and report posted herein. In no event shall GuruFocus.com be liable to any member, guest or third party for any damages of any kind arising out of the use of any content or other material published or available on GuruFocus.com, or relating to the use of, or inability to use, GuruFocus.com or any content, including, without limitation, any investment losses, lost profits, lost opportunity, special, incidental, indirect, consequential or punitive damages. Past performance is a poor indicator of future performance. The information on this site, and in its related newsletters, is not intended to be, nor does it constitute, investment advice or recommendations. The information on this site is in no way guaranteed for completeness, accuracy or in any other way. The gurus listed in this website are not affiliated with GuruFocus.com, LLC. Stock quotes provided by InterActive Data. Fundamental company data provided by Morningstar, updated daily.