Daily Traders Edge

Opinion: One of Warren Buffett’s favorite stocks is now selling at a big discount – MarketWatch

April 21
14:17 2017

Rarely do you get the chance to buy one of Berkshire Hathaway CEO Warren Buffett’s favorite stocks on sale. But that’s the case now with Wells Fargo.

Sure, the bank looks pretty bad following revelations of fraud that cost it $185 million in fines last September. In this scandal, Wells Fargo & Co. WFC, +0.46% staff opened up over two million phony deposit and credit card accounts to hit aggressive sales targets so they could earn bonuses.

That was dumb, and it just reinforced the rotten image people have of bankers.

But as bad as the scandal was for customers, investors should be thankful because it creates a discount for the bank’s stock, which is down about 10% since the beginning of March. The S&P 500 Index SPX, -0.06%  has fallen about 1% in that same span.

Continue Reading At MarketWatch

Related Articles

Newsletter Signup

Sign up for our free newsletter