Wednesday, January 21, 2009

Buying Wells Fargo

I took advantage of the recent collapse in banking stocks to pick up more shares in Wells Fargo at $15.90 a share. This stock has generally been a favorite of Warren Buffet, whose Berkshire Hathaway owns approximately $10 Billion worth of the stock. At this price the current estimated yield is around 7% making it a rather attractive bank stock as it has so far not fallen victim to the issues plaguing other banks.
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