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somerville » Comments » WFC

  • There Are Still Some Financial Stocks Worth Considering [View article]
    Hi Ray, Sorry you tried to short WFC, Doesn't work too well. That bank is resilent! Buffet loves this bank. Adding more shares to his portfolio as we speak. This bank has been cash rich for number of years. Very wise when they reach out to buy other banks too. (and they kept their hands in their pockets during all this current craziness!) I actually worked there for 22 years. I was a lender and we gave out gold stars after someone qualified for a loan there! (only kidding!)
    They have accumulated many nice deposit customers from Wamu and Wakovia I hear in the past few weeks.
    Oct 01 02:27 am |Rating: 0 0 |Link to Comment
  • Wells Fargo: A Growth Stock During the Great Depression? [View article]
    Wells has been a winner for many years. (look at a 10-20 year chart.)They don't make dumb acquisitions. Thank goodness they stayed away from WAMU and Wakovia. They did not involve themselves in any option arm lending. No Negative Amortized loans! I know I worked there for 22 years in residential lending. We used to kid that our customers deserved a 'Gold Star" after being approved on one of their loans! Buffet knows his business.
    The community has been rushing over to open their accounts with WFC this past month! (esp from WAMU) Add it up, there will be short term issues obviously, But definitely a hold on this stock and maybe even a buy..very soon.
    Sep 30 01:51 am |Rating: 0 0 |Link to Comment
  • Wells Fargo Seeking Fed Shotgun Marriage [View article]
    I too think NCC would be a great match for WFC. I worked at WFC and WAMU. SUCH DIFFERENT COMPANIES!
    WFC never originated any Option Arms. I know WFC picked up a block of business from Wamu about 5 years ago (?) that I was told were mainly fixed rate loans. Probably had a small percentage of Option Arms stuck in there too.
    PS Buffet knows his stuff..stay with WFC and of course DIVERSIFY!
    Mar 31 01:29 am |Rating: 0 0 |Link to Comment
  • Wells Fargo Seeking Fed Shotgun Marriage [View article]
    I too think NCC would be a great match for WFC. I worked at WFC and WAMU. SUCH DIFFERENT COMPANIES!
    WFC never originated any Option Arms. I know WFC picked up a block of business from Wamu about 5 years ago (?) that I was told were mainly fixed rate loans. Probably had a small percentage of Option Arms stuck in there too.
    PS Buffet knows his stuff..stay with WFC and of course DIVERSIFY!
    Mar 31 01:29 am |Rating: 0 0 |Link to Comment
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