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Chinese Translation NewsWells Fargo, An Honest Bank with Good Valuations Invested by Warren Buffett Wells Fargo not paying cash bonus to four of its top executives is yet another sign that this honest bank with good valuations should be considered by investors. Warren Buffett invested in it. At current share price, it's worth considering. Do you agree? Please write to us and let us know. By Samuel Chong Los Angeles. There are not many banks that are as honest as Wells Fargo. There are not many banks that have such good corporate governance as Wells Fargo. There are not many banks stick to their words as Wells Fargo. Many banks went bankrupt, while others were rescued by the federal government. Wells Fargo, the bank invested by Warren Buffett, with such low valuations, should be considered as a long term investment by the investors. During the exotic zero interest rate mortgage loan period a few years ago, Wells Fargo was the only major bank that kept its traditional loan practices. Many loan agents were angry at the bank. Yet, a few years later, Wells Fargo is one of the soundest banks around. Wells Fargo does not have the branch size of Citibank, nor the attractiveness of UBS for some of the wealth management products for some of the super rich, it grows steadily, and remains one of the largest banks in the United States, and certainly one of the most sounded banks. Insiders purchased the shares of Wells Fargo back in February and March of this year. Below is a list 10-Mar-09 RICHARD MCCORMICK Purchased 15,000
Shares at $10.95 per share From the insider trading list above, we can see that the share prices of Wells Fargo were attractive at between $8.05 to $19.90. Currently, Wells Fargo trades at $26.98. It will be your decision on the entry point. Employees of Wells Fargo are satisfied at working for the company, and not many people are shorting the stock. Its short ratio as of 15-Dec-09 is 1.6 and its short as a percentage of float as of 15-Dec-09 is 1.90%. Here is the comparison chart (from Yahoo Finance) of its competitors
You will be the judge. Let me know if I am right. The author currently does not own any shares of Wells Fargo. This article can also be found at http://www.certifiedchinesetranslation.com/09/1228-Wells-Fargo-Invest.html
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