Short Wells Fargo Wtc

Discussion in 'Stocks' started by marketsurfer, Apr 13, 2009.

  1. Buffett pumped WFC in a major way over the weekend. can he legally sell it now? he said it was a "fabulous company", but after +36% in 3 days why would not he sell it?
     
    #101     May 6, 2009
  2. I think Buffett looks at tax ramifications (and other issues) before making a move.

    He owns a sizable piece of Wells. If he were to sell it now, the profit would be taxed as ordinary income and he would get hammered. I think he's looking more long term on this one because he knows the Fed isn't going to let Wells go the way of Lehman Bros.

    Look at the history of the stock. All Buffett has to do is hold until the end of the year. If the economy perks up Wells is likely to move back into the $35 to $50 range minimum. If you listened to Bernanke's comments a day or so ago, he says that the top tier banks (like Wells) may have still have bad assets on their books but they also have plenty of earnings power as well. To me it looks like Buffett is holding a strong hand and is going to get paid to hold this one.
     
    #102     May 6, 2009
  3. Wow are you ignorant. Buffett has owned all of his 290+ million shares of WFC for more than a year.
     
    #103     May 6, 2009
  4. Bear Market rallies can be sharp, fast, volatile, and lengthy.
    We were over sold.
    Realization for the markets has been that We aren't going into depression.
    There are signs of recovery.....real or perceived by the market.
    Never get in the way of a rally or trend and take a counter position. That will get you killed. Picking a reversals of a trend with nothing to indicate that it is occurring is a bad idea. Picking a stock that is regarded by the market as better than others in the sector is a bad idea.
    We are going to rally until we don't. It's that simple. No signs of that happening yet. That can change tomorrow but something in the NEWS about the economy has to happen and be significant to get a reversal of this up trend. We will reverse for a bit at some point but it won't be anything significant until something(just a correction in the prevailing trend) breaks this bear market rally.
    Unemployment will be the test.
    A decent report then we will continue to rally nicely.
    A Bad report and maybe the rally gets reversed.


    We shall see.

    Happy Trades.
     
    #104     May 6, 2009
  5. Its a shame really....Perhaps the recent verbal ass whipping you received has affected your obviously limited cognitive skills.

    You've quoted an article that is more than a year old. Here is a more up to date figure, and even that is subject to revision.

    http://www.newsdaily.com/stories/wen8418-us-berkshire-buffett-wellsfargo/

    Finally NO ONE, least of all you, can know exactly what Berkshire Hathaway holds, or what they may have sold and repurchased until they file legally required disclosure data.

    No need to apologize, you trolls are a fact of life on this site.

    :p
     
    #105     May 7, 2009
  6. stock-short3r


    Registered: Jul 2008
    Posts: 76


    05-06-09 04:43 PM

    You should be embarresed....The risk -reward was skued....you will say it was not with a target of 10....but your target was laughable at best........ But you got take chances sometime......I just never understood your stop price 25.07


    SHORT3R



    P.S..... i would be looking to short around 27 to 27.5 with a stop of 28.8 and target of 22

    The above is from 5-06

    I have been filled at 27.72(it gapped up this morning) I still have a target of 22 and stop at 28.8




    SHORT3R
     
    #106     May 7, 2009
  7. So when you I exposed you as steve911 and you threw a few childish insults at me that was somehow a verbal asswhipping? ROTFLMAO!!! Is that how you cope with humiliation? Yep... that's what you did under your old nic too.

    And I see from this post that you're still a compulsive liar. I didn't quote "an article that is more than a year old" you lying sack of shit. I didn't quote an article at all. The number I gave is from Berkshire's 13F filed on Feb. 17, 2009 and the number of shares of WFC owned from that is 290,244,868.
    http://www.hoovers.com/free/co/secdoc.xhtml?ID=10206&ipage=6420602

    You're just trying to obfuscate the stupid statement you made here:

    I think Buffett looks at tax ramifications (and other issues) before making a move.
    He owns a sizable piece of Wells. If he were to sell it now, the profit would be taxed as ordinary income and he would get hammered.


    I can tell you from following Berkshire's 13Fs that he's held these shares for more than a year. Thus your tax comment is ignorant and half baked just like everything else you post. Not to mention that his cost basis is a little over $22/share and he doesn't trade stocks for a few dollars profit per share.

    No need to apologize... I know you can't admit when you're wrong. Or when you lie :p
     
    #107     May 7, 2009
  8. #108     May 7, 2009
  9. TREASURY MONTHLY INTERMEDIATION SNAPSHOT

    Name of institution: Wells Fargo & Company
    Reporting month(s): February 2009
    Submission date: March 30, 2009
    Person to be contacted regarding this report: Karen B Nelson

    PART II. QUALITATIVE OVERVIEW

    Please provide a brief overview of the intermediation activity during the month. This discussion should
    include a general commentary on the lending environment, loan demand, any changes in lending
    standards and terms, and any other intermediation activity.

    Company Description

    Wells Fargo & Company is a $1.3 trillion diversified financial services company providing banking,
    insurance, investments, mortgage banking, investment banking, retail banking, brokerage and consumer
    finance through banking stores, the internet and other distribution channels to consumers, businesses
    and institutions in all 50 states and in other countries.

    Effective December 31, 2008, Wells Fargo & Company acquired Wachovia Corporation. The amounts
    reflected in line items included in the accompanying Snapshot such as average loans, loan originations
    and new and renewed commitments do not reflect balances for Wachovia for December 2008.

    Amounts reflected in line items for February 2009 and January 2009 reflect activity for Wells Fargo,
    inclusive of Wachovia.

    First Mortgages

    As a result of the November/December 2008 decline in market interest rates to historically low levels,
    Wells Fargo experienced one of its highest application months in history in December and ended 2008
    with a pipeline of $71 billion. In January 2009, Wells Fargo experienced another historically high
    application month as rates remained low, ending the month with a pipeline of $87 billion.

    Total originations in February 2009 were $34.8 billion, an increase of 45% from January 2009. A portion
    of this increase resulted from 90 day interest rate lock commitments on some of the December and
    January pipeline. Over 80% of the February originations were borrower refinancings. Continued
    historically low interest rates during February resulted in a strong pipeline of $75 billion at the end of
    February. Due to the size of the pipeline at the end of the month, strong funding levels are expected to
    continue in March.

    In January Wells Fargo began to aggressively use current streamlined approaches and new customized
    solutions to avoid preventable foreclosures for Wachovia mortgage customers. In total, 478,000
    Wachovia customers—including those with Wachovia Pick‐a‐Payment loans—will have access to the
    program focused primarily on those whose loans are delinquent or are likely to become delinquent. At
    the end of 2008, 93 out of every 100 Wells Fargo mortgage customers were current on their mortgage
    payments.

    Home Equity

    Originations of home equity lines and loans were $613 million in February, a 4% increase over January.
    Total used and unused home equity line and loan commitments were $230.5 billion at the end of
    February.


    TREASURY MONTHLY INTERMEDIATION SNAPSHOT
    Name of institution: Wells Fargo & Company
    Reporting month(s): February 2009
    Submission date: March 30, 2009
    Person to be contacted regarding this report: Karen B Nelson

    U.S. Card and Other Consumer

    The number of new credit card applications exceeded 800,000 in February. New account originations
    were $1.5 billion. Additionally, existing account line increases totaled $218 million. Other consumer
    loan originations of $1.9 billion include $1 billion for auto loans and $762 million of education loans.
    Funding of education loans decreased from its January peak as funding for the Spring 2009 semester
    wound down.

    Commercial and Commercial Real Estate

    February renewals of existing commercial accounts totaled $9 billion in February. New lending
    commitments were $4.8 billion. Commercial real estate lending reflected $2 billion in renewals of
    existing accounts and $1.5 billion in new commitments. New originations were primarily for office
    buildings.

    MBS Net Purchased Volume

    February MBS net purchased volume was $26.9 billion and $29.8 billion year‐to‐date including
    purchases of $21.5 billion of FNMA and $4.3 billion of FHLMC securities in February.

    Monthly information reported in the Treasury Monthly Intermediation Snapshot does not necessarily
    reflect results that may be expected for a full quarter or future periods. For example, monthly first
    mortgage origination volume is subject to volatility due to a number of factors including changes in
    prevailing mortgage interest rates and the number of business days in a given monthly reporting period.
    Accordingly, Wells Fargo cautions the reader in using reported data as a predictor of future results.

    https://www.wellsfargo.com/downloads/pdf/invest_relations/treasury_lend_report_Feb2009.pdf
     
    #109     May 9, 2009