firstmethod70

Wells Fargo Sham Revealed

um... disclosure please.

Wells Fargo Lays Bear Trap on Wall Street

In general companies don't jack dividends to "prove a point" or "maintain a 21 year track record" or to be audacious they do it because they can. This is doubly true for an 150 YO blue chip widely known to be ultra conservative. I distinctly remember the CFO in the conference call saying "the business is accellerating faster than the write offs". The (anonymous) poster also made no positional disclosure which makes me suspect its histronics from a badly burned short. Regardless WFC will be one of the last banks standing and will be cherrypicking amongst the burned out rubble - additional writeoffs or not.

Wells Fargo Leaves Much Uncertainty in Wake of Latest Earnings

Good article... until you read the disclosure: long SKF. Looking up SKF reveals... Proshares Ultrashort Financials. So now the article might be better titled "Bitter short gets fried alive in recent $7 WFC runup". So much for objectivity.