Wells Fargo & Co. (WFC)

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  • commenter
    LaloPaloMalo
    Jul 24 05:17 PM
    Five Strategies to Survive the Markets [view article]
    Econ101---bravo 4 the insight/insite. Reply
  • commenter
    edny555
    Jul 24 03:58 PM
    Fearful Day for Financials - Stop Trading! (7/14/08) [view article]
    true dump cramer don't think he can pick his nose. i fell for the downey savings bank ( dsl ) when it was 68. Unfortunately still have it. Also new York stock ex euro ( nyx ) after averaging down cost about 80, now down to below 50. Cramer is not good for the small investor as stated. The small investor doesn't stand a change with his numerous picks. A carnival barker and it only costs nearly 400.00 dollars for the street.com, his company.


    On Jul 23 09:33 PM whatadifaday makes wrote:

    > Yes What a Difference a Day makes.........Lets see........WM & WB
    > were his two worst bank stocks.........Yet his Goldman Sacks Buddy
    > takes over the helm at Wachovia and all of a sudden.......All of
    > the bad debt is gone, the housing crisis is over and everyone should
    > buy a "house within the next six months"!!!!!!!!! Is this guy stupid
    > or what? The SEC should be looking at this guy, not at those shorting
    > stocks or commodities. This guy (Cramer) should be banned from CNBC........The
    > others on the show are real professionals....Dump CRAMER......for
    > the sake of the small investor.....     Reply
  • commenter
    ArtfulDodger
    Jul 24 12:23 PM
    Seven High-Yielding ETFs [view article]
    Income is fine. But has the market priced in the possibility of an Obamba presidency, where dividends would be taxed much higher than they are today?

    If not would any strictly dividend play not be a risky play over the next couple of months, at least until we find out which bum will have Air Force One for the next four years?     Reply
  • commenter
    DaveBlz
    Jul 24 11:44 AM
    Seven High-Yielding ETFs [view article]
    Another ETF is the S&P Dividend Aristocrats, consisting of companies that have consistently raised their dividends. I read about it in an article written by an S&P advisor. But the S&P website only has an 8-digit symbol (which doesn't work) and S&P in New York did not know what the regular symbol is. If anyone does, please add it to comments. Reply
  • commenter
    jackooo
    Jul 24 11:36 AM
    My Website
    Seven High-Yielding ETFs [view article]
    With inflation for this year predicted in the low 4% range you need at least 5 1/2% to break even after taxes. Of course a Roth Ira could get by on 5%. Reply
  • commenter
    Jessica08
    Jul 24 11:17 AM
    My Website
    Seven High-Yielding ETFs [view article]
    Great article, it was very informative. If you check out www.etfmarketpro.com/h... you can see three more high-yield ETFs that you did not mention. Thanks! Reply
  • commenter
    wintertree
    Jul 24 10:34 AM
    Wait for August FFIEC Call Reports Before Taking a Long Position in Banks [view article]
    "The perceived improvement, or for that matter the perception that the losses have peaked, has caused one of the greatest short-term rallies in the history of financial stocks."

    Hardly. The past week's price hikes resulted from the emergency rule banning naked short selling in many financial stocks. If you look at USB, for example, there was no real "rally" because during the few weeks before the rule went into effect, USB's pps had declined a ludicrous $13, for no reason other than a massive increase in short positions. Despite what you mistakenly call a rally, USB has not yet recovered its price of a month ago. Your story is misleading, making me suspect that you are a fan of short selling, including naked short selling: it makes your speculations more "prudent".     Reply
  • commenter
    Jimmy
    Lathrop
    Jul 24 09:01 AM
    My Website
    Four Banks' Pragmatic Mortgage Resolution [view article]
    I thought this was an extremely well-written article. It frankly dealt with the weakness in the sector and suggested how these four institutions may fare better in the long run. I especially enjoyed this extremely diplomatic sentence.

    "While all four banks claim that they hold no subprime, most of them have experimented in adjustable rates and home equity loans and lines."

    I think the word "experimented&quo... encapsulates the problem in the sector as a whole. Some college kids "experiment" with drugs. Most turned out okay if it was just an experiment. However, crack and methamphetamine smokers have said that the addiction was immediate, with no experimentation phase, and the habit was hard to break, causing much distress, sometimes ending in death.

    So what's the toxicity level of these suspect loans? The only way to determine the level of default or near default loans would be to increase communication with every customer of their loan products as their fortunes are intertwined.

    Banks can no longer wait for loans to be 30 or 60 days late before they act to assist a homeowner, otherwise, they risk having their balanced sheet impaired through these nonperforming loans, death from a thousand needles. The advent of electronic loan processing made underwriting loans so impersonal, in order to forestall rising defaults, loss mitigation and customer relations will need to "get to know the customer all over again" so a realistic picture of a lending portfolio can be made. Only when banks truly know which loans are genuine and which are fraudulent or in need of renegotiation will uncertainty lift from the sector and clarity can be achieved.

    The downside to this is that the costs of servicing these loans are labor intensive to make up for the lack of due diligence at underwriting. That will lower profits. But it will bring underwriters and borrowers closer together, restoring a traditional banking relationship with its risks and returns. If every bank could cultivate that relationship we wouldn't need the GSCs. But that would be the rational thing to do and as irrational people, it will never happen.     Reply
  • commenter
    Russ Krull
    Jul 24 07:00 AM
    Four Banks' Pragmatic Mortgage Resolution [view article]
    I didn't see anything about a rate freeze in the WFC earnings statement. They did say that at current short term rates, nearly all their ARMs will be resetting to the same or lower rates over the rest of the year. Reply
  • commenter
    squashnut
    Jul 24 05:42 AM
    Four Banks' Pragmatic Mortgage Resolution [view article]
    If wfc freezes heloc rates, what happens when rates rise to prop up the dollar? Reply
  • commenter
    saluki65
    Jul 24 02:53 AM
    Seven High-Yielding ETFs [view article]
    Good idea, after going trough some gut wrenching twists and turns. As an income investor I have started doing this same thing and have added already some of the mentioned stocks and will be moving more money toward this type. Heck, even my investment grade preferreds have been extremely volatile. Reply
  • commenter
    Kinabalu
    Jul 24 02:25 AM
    Financial-Dip Buyers Forget To Ask What's Next [view article]
    This is the third article I've seen claiming that Wells Fargo beat the Street profit numbers by accounting trickery. How can people get jobs or claim to be proficient in finance without any knowledge of accounting? What Wells Fargo did they described as deferring chargeoffs from 120 to 180 days. As spotO notes above this does not increase net earnings. The entry for posting a chargeoff is very simple. 1) debit Loan Loss Reserve (a credit balance account); 2) credit Loan Asset . Thats it. Both of these accounts are balance sheet accounts. There is no income statement effect. What you end up with if you defer this entry is a higher LLR, which is appropriate because you still have the nonperforming asset on your books. To call this moving the goalposts is ridiculous. It is changing the rules but it is not creating income or capital by trickery.

    A sophiscated analyst will look at something like the ratio of LLR to Nonperforming Loans. In Wells Fargo's case, because their ratio is greater than 1, the change actually makes this ratio look worse. For Wachovia or Washington Mutual, whose ratios are 84% and 87% respectively, this type of change would be more properly criticized, because it would have improved this widely reviewed ratio.     Reply
  • commenter
    whatadifaday
    makes
    Jul 23 09:33 PM
    Fearful Day for Financials - Stop Trading! (7/14/08) [view article]
    Yes What a Difference a Day makes.........Lets see........WM & WB were his two worst bank stocks.........Yet his Goldman Sacks Buddy takes over the helm at Wachovia and all of a sudden.......All of the bad debt is gone, the housing crisis is over and everyone should buy a "house within the next six months"!!!!!!!!! Is this guy stupid or what? The SEC should be looking at this guy, not at those shorting stocks or commodities. This guy (Cramer) should be banned from CNBC........The others on the show are real professionals....Dump CRAMER......for the sake of the small investor..... Reply
  • commenter
    bill d
    Jul 23 07:33 PM
    Financial-Dip Buyers Forget To Ask What's Next [view article]
    Gee - here's another:

    I think it's related to misstatment, manifesdos and outsoursing. Speaking of delusional.... Reply. commenter. nyka. Apr 14 05:22 PM ...

    Wow -3 in one sentence - amazing.     Reply
  • commenter
    bill d
    Jul 23 07:15 PM
    Financial-Dip Buyers Forget To Ask What's Next [view article]
    I see I am not the only one to burn you on your juvenile, idiotic attempt at your grammatical attacks.

    Here's another one you wrote that kind of hoists you on your own petard:

    "Lots of "meat" here for the knolwedgeable investor to digest. For all others, it's meaningless."
    What is "knolwedgeable&qu... ?

    Like most anal self aggrandizing half wits - sooner or later you reveal to the world your own moronic display of elitism.
    Try to enjoy the site for what it is or go to the library and help the needy.     Reply

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