DOUGLUVS

Wells Fargo Downgraded: Oppenheimer's Whitney Goes Too Far

Whitney's forecast of additional write-downs at WFC doesn't seem excessive at all given WFC's $85 billion exposure to home equity loans and its heavy exposure to CA real estate market plus the continuing decline of housing prices. However, investors might be wise to scale into a long term investment position in WFC on dips into the low to mid 20s like Buffet has in the recent past.