Of course he’s talking his book here, but Berkshire Hathaway (BRK) CEO Warren Buffett remains extremely positive on Wells Fargo (WFC), the bank in which he owns a 7.2% stake.
Speaking at his annual shareholder meeting, he said that when the company hits its lows earlier this year: “If I had put all my net worth in one stock, that would be the stock.”
Buffett also heaped praise on his other financial holdings — again, pinch of salt, etc. — like US Bancorp and Goldman Sachs (GS), saying they had plenty if capital and that there was no reason for senior holders to take any type of haircut.
Barring some shocking stress test leak, watch for Wells to rally on Monday.
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