The market seems jittery. As I have noted in my previous piece on Bank of America (BAC, Financial), the caveat is the obvious gloomy macroeconomic backdrop we are witnessing now. Buffet on the other hand seems to be on a buying spree, particularly on August 8's precipitous decline, where he upped his stake in Wells Fargo & Co. (WFC, Financial). The legendary investor opined, “Banks, facing tighter regulation, can still be plenty profitable.”
Taken from Yahoo Finance (YHOO, Financial), Wells Fargo & Company, through its subsidiaries, provides retail, commercial and corporate banking services primarily in the United States. The company operates in three segments: Community Banking; Wholesale Banking; and Wealth, Brokerage, and Retirement. Wells Fargo & Company was founded in 1929 and is headquartered in San Francisco, Calif.
Fear is the greatest enemy one could ever wish to conquer, in comparison to Hope and Greed. It lives in stealth, and strikes mercilessly at the opportune time. But that's when you should be greedy? From CNBC, “He acknowledges, however, that overcoming fear is easier said than done. 'There is no comparison between fear and greed. Fear is instant, pervasive and intense. Greed is slower. Fear hits.'”
See, Buffett Increases Wells Fargo Stake
Warren Buffett’s Berkshire Hathaway Inc. (BRK/A) increased its stake in Wells Fargo & Co. (WFC), building equity holdings amid a markets decline that the billionaire investor said provided an opportunity for buying stocks “on sale.”
Berkshire accelerated purchases on Aug. 8 as the Standard & Poor’s 500 Index plunged 6.7 percent, its steepest decline since December 2008.
“I like buying on sale,” Buffett, Berkshire’s chief executive officer and head of investments, said in a television interview with Charlie Rose to be broadcast on PBS. “Last Monday, we spent more money in the stock market buying than any day this year.”
Buffett, 80, is spending on stocks and takeovers as near- record low interest rates limit returns in fixed income. Banks, facing tighter regulation, can “still be plenty profitable,” Buffett said last month.
“Financial markets create their own dynamics, but I don’t think we’re facing a double dip,” Buffett told Bloomberg Television’s Betty Liu in an interview on Aug. 6.
Note: Italics copied in verbatim
Taken from Yahoo Finance (YHOO, Financial), Wells Fargo & Company, through its subsidiaries, provides retail, commercial and corporate banking services primarily in the United States. The company operates in three segments: Community Banking; Wholesale Banking; and Wealth, Brokerage, and Retirement. Wells Fargo & Company was founded in 1929 and is headquartered in San Francisco, Calif.
Fear is the greatest enemy one could ever wish to conquer, in comparison to Hope and Greed. It lives in stealth, and strikes mercilessly at the opportune time. But that's when you should be greedy? From CNBC, “He acknowledges, however, that overcoming fear is easier said than done. 'There is no comparison between fear and greed. Fear is instant, pervasive and intense. Greed is slower. Fear hits.'”
See, Buffett Increases Wells Fargo Stake
Warren Buffett’s Berkshire Hathaway Inc. (BRK/A) increased its stake in Wells Fargo & Co. (WFC), building equity holdings amid a markets decline that the billionaire investor said provided an opportunity for buying stocks “on sale.”
Berkshire accelerated purchases on Aug. 8 as the Standard & Poor’s 500 Index plunged 6.7 percent, its steepest decline since December 2008.
“I like buying on sale,” Buffett, Berkshire’s chief executive officer and head of investments, said in a television interview with Charlie Rose to be broadcast on PBS. “Last Monday, we spent more money in the stock market buying than any day this year.”
Buffett, 80, is spending on stocks and takeovers as near- record low interest rates limit returns in fixed income. Banks, facing tighter regulation, can “still be plenty profitable,” Buffett said last month.
“Financial markets create their own dynamics, but I don’t think we’re facing a double dip,” Buffett told Bloomberg Television’s Betty Liu in an interview on Aug. 6.
Note: Italics copied in verbatim
