Wells Fargo & Co. (WFC)

All Comments on WFC

  • commenter
    Socialism
    cannot
    compete!
    Oct 07 11:20 AM
    Why Is Everybody Selling as Buffett Is Loading Up? [view article]
    How about because Buffet is diluting everyone else? Is it that hard to see?? Why in hell would I wanna go into GS or GE now, after they've agreed to issue him that much preferred at 10%?? They're gonna have a hard time making 10% for anyone else and he's gonna come away with the lion's share of the earnings.
     Reply
  • commenter
    helplessobse
    rver
    Oct 07 11:19 AM
    @VIC: Bill Ackman on Wachovia [view article]
    A couple of observations:
    1. C is sick, sick and barely breathing, scaring the heck out of the everyone.
    2. Ackman made 1600 on his SATS and uses this demonstrated mental faculty to drill down into the minutiae of investments. He saw the immediate value to WB of the IRS new decision on tax loss carry forwards as a huge asset for WFC, who has profits to shelter. Anyone who has losses these carry forwards are worthless.     Reply
  • commenter
    Roy P.
    Oct 07 11:15 AM
    Why Is Everybody Selling as Buffett Is Loading Up? [view article]
    1. there's no safe stock.
    2. there's no safe time to buy any stock.
    3. if you are looking for safety, skip stocks altogether.
    4. market has never reward cowards.
    5. market rewards people who can think and have courage to execute.     Reply
  • commenter
    Poor Jim
    Oct 07 11:14 AM
    Wall Street Breakfast: Must-Know News [view article]

    Two thangs, as we say in Texas..

    1.Hey, fellow journalists, you're late! We're not getting into a recession In the United States; we've been in one for close to a year now. And thanks to those brave representatives who voted against the first "bailout bill" we have already started the Second Great Depression.

    2. Bank of America CEO Ken Lewis lost a lot of crediibility yesterday when he cut the BAC dividend 50%. Only a month or so ago, while he was speaking to and taking questions from a group of senior citizens in California, he said that he could see no reason now or in the future for a dividend cut. Now, it looks like he was fuld of sh-t.     Reply
  • commenter
    CLH
    Oct 07 11:11 AM
    Why Is Everybody Selling as Buffett Is Loading Up? [view article]
    Comments are from negative losers who are standing around frightened. Reply
  • commenter
    Milt
    Oct 07 11:02 AM
    @VIC: Bill Ackman on Wachovia [view article]
    Broker just recommended Wachovia as a strong buy!!!

    I said you got to be kidding me!

    He said that Citi is preparing a counter offer to be delivered later this week for "ALL" of Wachovia at $17 + a share.

    Said his info came from a friend at Citi that is in a position to know and this friend said the reason was basically that without Wachovia or another equal to acquisition Citi was going down the toilet!

    What do you think?

    PS: Also said that the reason Fed put a hold on was to give both Citi and Wells Fargo time to develop offers!

    Reply
  • commenter
    pgvinter
    Oct 07 10:54 AM
    The Duplicitous Sheila Bair [view article]
    This is the absolutely worst thing that the FDIC could have done. At its core this is a crisis of confidence as credit by its very nature is a form of confidence. For the FDIC to lose any confidence in its influence as a force of market stability by playing favorites and backing out of a deal with C one of the most prominent and important financial institutions on the street in order to renegotiate a deal and walk away from taking losses is a very short sighted and ill conceived move. Reply
  • commenter
    swingforthef
    ence
    Oct 07 10:48 AM
    The Duplicitous Sheila Bair [view article]
    Oh please ZF! You think Citi wouldn't take the same advantage from the bailout deal??? And then turn around and add to the 60 billion they have already blown? Wells is in a better position to absorb the losses. Bair's job is not to analyze the legalities and she may have faced some of her own if she failed to produce the offer to Wachovia. Stick to your day job (Citi Teller). Reply
  • commenter
    nobull
    Oct 07 10:47 AM
    The Duplicitous Sheila Bair [view article]
    Ever since govt started meddling in the market, modifying stock market ruless and adjusting loans for borrowers, ethics has been thrown out the window.
    Reply
  • commenter
    mollytjm
    Oct 07 10:20 AM
    Pay Little Heed to Economic Reports and Move On [view article]
    i like this post...some sanity in the middle of madness. however, apple sales of iphones is way above estimates and will continue as pent up demand keeps going...i got two iphones after my verizon contract expired just this weekend. i'm not alone...lots of people out there are still on contracts too costly to quit. ipod sales were bound to be lower when the iphone got cheaper. look for apple to be very competitive...they know what they're doing. i have no advice for day traders but for the 'buy and hold' crowd, apple is a great buy and has a huge moat, cash and no debt. Reply
  • commenter
    jlounsbury59
    Oct 07 10:18 AM
    My Website
    Wall Street Breakfast: Must-Know News [view article]
    captainjohann - - -

    You correctly point out that supply and demand for oil have not changed much in the past few months. The emphasis is on the word much. Several months ago the oil markets were priced for a continuation of the uptrend in consumption that has characterized the past few years. That uptrend has slowed, possibly leveled out temporarily, and this could last for some time, depending on the nature of the anticipated recession.

    Oil has come down because a growth premium was priced in at $140. All the wat through the rapid rise in oil many experts were saying that the current supply and demand warranted only $50 to $80 a barrel, depending on which expert you listened to. Now that anticpated rapid consumption growth is being taken out of the pricing assumptions of traders (for the time being), oil should come down closer to that $50 - $80 range. If past patterns are repeated, oil may well dip below $50 because overcorrection often occurs.     Reply
  • commenter
    Chris B
    Oct 07 10:10 AM
    Why Is Everybody Selling as Buffett Is Loading Up? [view article]
    I agree with the observation that Buffet is getting a sweetheart deal. I'm sure if GS or GE offered those same preferreds on the open market, they would attract billions in investment. You can bet I'd buy them. The thing is, that listing process could take months - time these companies didn't have.

    This is a story of how cash in hand negotiates better than promises. Buffet came to these companies with a wad of billions in his hand and said "I can save you tomorrow, not a month from now." They were desperate. Buffet's option was the only thing that would keep them afloat, so they had to take it.

    This cash-in-hand leverage, and Buffet's tendancy to buy entire corporations, explains most of his recent outperformance.

    As TonyC-SA points out, individual investors can't get these deals unless they buy Berkshire.     Reply
  • commenter
    jlounsbury59
    Oct 07 10:08 AM
    My Website
    Wall Street Breakfast: Must-Know News [view article]
    captainjohann - - -

    Oil prices are not directly related to the bailout package. Oil has been dropping, partly because current demand is reduced, and partly because the market is forward looking to a recession, possibly worldwide, that will have significant length and depth. Demand will remain depressed into the bottom of any worldwide recession.     Reply
  • commenter
    ZF
    Oct 07 10:01 AM
    The Duplicitous Sheila Bair [view article]
    I am sick of hearing this BS that the WFC deal will not cost tax payers anything!!! Will probably cost us more! Unless WFC will pledge not to benefit from the bailout bill, new tax law ...

    What Sheila Bair did was highly unethical, City will have to be compensated. This kind of behind the back shady dealing remind me of a corrupt third world country,

    This sets a nasty precedent, that might complicate things in the future, and create even more jobs for lawyers.... and increase cost of doing business...     Reply
  • commenter
    Ben Steinway
    Oct 07 09:46 AM
    Bill Ackman Piled Into Wachovia and AIG Shares [view article]
    I've got to think Ackman had some inside information on plowing into Wachovia. I'd love to hook these guys up to lie-detectors and ask them how they REALLY discover their brilliant trading ideas! Reply
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