Saturday, May 2, 2009

Warren Buffett talkin' his book

Voltron says: Expect Wells Fargo to get a temporary boost from this crap. Good entry point for a short position. By my estimate Wells Fargo is bankrupt three and a half times over.

"Wells Fargo will be a lot better off in a couple of years than if none of this had happened," Buffett said at Berkshire's annual meeting. Noting that Wells Fargo shares fell below $9 each this year -- they bottomed at $7.80 on March 5 -- he added that at that lowered price, "If I had put all my net worth in one stock, that would be the stock."

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