Before I lose it, here's the link to his sitdown on CNBC Monday: Buffett's breakfast blast
I didn't read it until Wednesday. Amazing, what he's saying about toxic assets. It's opposite of what the general media have been writing. His words, along with President Obama's confidence, have helped turn the market around the past three days.
Strangely (and stupidly) enough, all of Buffett's upside perspective didn't register with me in terms of Wells Fargo (WFC). I never once thought to study it. Sure enough, WFC is another financial soaring higher. WFC traded below 10 on Monday. By Wednesday, while I read Buffett, it was still at 12. WFC closed today (Thursday) at 13.95.
He talked openly about Wells Fargo and the spreads and the way toxic assets are probably the institution's best assets. It was kind of shocking to hear for us mere mortals. WFC is still far off its one-year high (44).
Subscribe to:
Post Comments (Atom)
No comments:
Post a Comment