Long term, yes. If you have some reasonable definition of long term. Banking there, probably not. We don't own the stock, but like others we like bargains when we can find them.You might want to read this before you go to Wells Fargo bank the next time. The more things change the more they stay the same.
This isn't to suggest as some have that Wells Fargo isn't a good contrarian play here. Just this weekend's edition of Barron's article, "The Art of Successful Investing Participants," one guru touted WFC, saying individual customers didn't "suffer significant damage. The average fee charged accounts was $25 and all the money was refunded." So one guesses it's okay if one commits fraud and then gives a refund nobody goes to jail.
He went onto explain why he and his firm held on to their shares is the individuals and their actions responsible were stopped."What Wells did was wrong, but it has corrected the problem." Now we're again not saying the bank won't be or even isn't a decent investment, but we've seen some glaciers that move faster than banks, especially big ones.
Read and decide for yourself about certain activities having been stopped.
zerohedge.com/news/2016-10-23/i-went-wells-fargo-branch-and-what-happened-next
This isn't to suggest as some have that Wells Fargo isn't a good contrarian play here. Just this weekend's edition of Barron's article, "The Art of Successful Investing Participants," one guru touted WFC, saying individual customers didn't "suffer significant damage. The average fee charged accounts was $25 and all the money was refunded." So one guesses it's okay if one commits fraud and then gives a refund nobody goes to jail.
He went onto explain why he and his firm held on to their shares is the individuals and their actions responsible were stopped."What Wells did was wrong, but it has corrected the problem." Now we're again not saying the bank won't be or even isn't a decent investment, but we've seen some glaciers that move faster than banks, especially big ones.
Read and decide for yourself about certain activities having been stopped.
zerohedge.com/news/2016-10-23/i-went-wells-fargo-branch-and-what-happened-next
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