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Tim Travis
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Tim Travis is a veteran deep value investor and money manager. Travis has extensive experience in traditional investments such as stocks and bonds, in addition to having a unique methodology of combining options and distressed investing with value investing to generate income, reduce risk, and... More
My company:
T&T Capital Management
My blog:
T&T Capital Management Blog
My book:
Learn to Treat Your Portfolio as a Business
  • Wells Fargo Doubles Down On Mutual Funds As Rivals Wither-Bloomberg 0 comments
    May 22, 2012 11:12 AM | about stocks: WFC

    I think Wells Fargo (NYSE:WFC) is making the right move by attempting to double their asset management business within the next seven years. Asset management is not a capital intensive business and it is very scalable so I'd expect the company to be able to increase profitability as it grows. Wells Fargo also has the right business model to intertwine asset management due to their strong cross-selling culture. In addition it is an excellent time to pick up assets under management on the cheap with other banks retrenching as they try and raise their capital levels. This is what make Wells Fargo unique in that they are very price disciplined in their acquisitions and they have shown the ability to meet or exceed their goals.

    http://www.bloomberg.com/news/2012-05-22/wells-fargo-doubles-down-on-mutual-funds-as-rivals-wither.html

    Disclosure: I am long WFC.

    Stocks: WFC
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