1. How to use GuruFocus - Tutorials
  2. What Is in the GuruFocus Premium Membership?
  3. A DIY Guide on How to Invest Using Guru Strategies
Canadian Value
Canadian Value
Articles (4624) 

Warren Buffett's Favorite Banker Discusses the Banking Business

June 20, 2013 | About:

Wells Fargo (NYSE:WFC) is Warren Buffett's favorite bank. I don't think there is any doubt about that. It represents one of Berkshire Hathaway (NYSE:BRK.A)(NYSE:BRK.B)'s largest holdings and he has been adding shares every quarter.

Joseph Stumpf is Wells Fargo's CEO and this morning he discussed the state of the mortgage market.

He thinks that housing is much healthier now than it has been in quite a while. In fact, he thinks that the housing market is in much better shape than most people think.

He thinks houses today are a bargain. Current interest rates are still a fabulous bargain relative to what they have historically been.


About the author:

Canadian Value

Rating: 3.5/5 (8 votes)


Vgm - 3 years ago    Report SPAM
It might be more accurate to say that Wells is Buffett's favorite BANK and Jamie Dimon is his favorite BANKER.
Heldman premium member - 3 years ago
Uh, the name's John Stumpf...might want to study this a little more

Please leave your comment:

GuruFocus Mobile App

User Generated Screeners

evseanLow Value Stock
bpatton23stocks for monday
broberts1963Dividend Champion Screener
Ismael04All VI 24oct16
Doug Taylorlow PE
Doug TaylorProjected free cash flow Canad
Get WordPress Plugins for easy affiliate links on Stock Tickers and Guru Names | Earn affiliate commissions by embedding GuruFocus Charts
GuruFocus Affiliate Program: Earn up to $400 per referral. ( Learn More)