Couldn't Resist Wells Fargo
I have a simple rule when it comes to investing: If you can buy a stock for two-thirds the price Warren Buffet paid, do it.
Today I bought 1,875 Wells Fargo shares (WFC) for $16.15 after I finally did a bit of research and discovered Warren Buffett thought this stock was a excellent value in the low 20's. Add the fact that "we've added quite a bit to our holdings since the start of the year [2008]" and you can see that The Oracle thinks this is a great stock to buy at around $25.
Which makes $16 a screaming bargain.
To top it off, Buffett's praise for Wells Fargo was extroadinary: "There's no banking institution, during the last six months, that has done a better job for its holders, for its depositors, and for its borrowers, than Wells." That's good enough for me!
To fund this stock I've put another £20,000 into my investment fund. But since the value of the pound is painfully low, I only converted half that to dollars (around $14,000). The remainder of the WFC purchase was funded by my margin loan.
Today I bought 1,875 Wells Fargo shares (WFC) for $16.15 after I finally did a bit of research and discovered Warren Buffett thought this stock was a excellent value in the low 20's. Add the fact that "we've added quite a bit to our holdings since the start of the year [2008]" and you can see that The Oracle thinks this is a great stock to buy at around $25.
Which makes $16 a screaming bargain.
To top it off, Buffett's praise for Wells Fargo was extroadinary: "There's no banking institution, during the last six months, that has done a better job for its holders, for its depositors, and for its borrowers, than Wells." That's good enough for me!
To fund this stock I've put another £20,000 into my investment fund. But since the value of the pound is painfully low, I only converted half that to dollars (around $14,000). The remainder of the WFC purchase was funded by my margin loan.
posted by Mr Investor at 10:45 AM
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