GuruFocus Podcast Episode 2: Wells Fargo, Scandal & Investors With Bill Smead

Interview with Smead Capital's Bill Smead on impact of bank's misdeeds

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Oct 04, 2016
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The second episode of the new GuruFocus podcast is available for listeners.

In this episode, GuruFocus talks with noted investor Bill Smead of the $2.4 billion Smead Capital Management. The conversation covers Wells Fargo’s creation of millions of fake bank accounts that incurred a $185 million fine, the ire of congress and a warning from Buffett that trust may be difficult to regain.

Bill discusses the implications of the scandal for the bank and whether it is a buy after the price drop, as well as his outlook for financials, what he thinks investors should buy and more.

Wells Fargo (WFC, Financial) is Warren Buffett (Trades, Portfolio)'s favorite bank. He owns it in his portfolio personally, and Berkshire Hathaway (BRK.A, Financial)(BRK.B, Financial) has an almost 10% stake.

The podcast is available to listen to on the website, and you can now subscribe to it on iTunes. Follow on Twitter here

Thanks for listening.