Will Buffett Be Right on Wells Fargo?
A long time friend once said, “Bill, on the stocks that worked it didn’t make any difference what you paid!” What he was referring to were the stocks which rose to many times your original purchase price and the investors who participated over the long run in the shares and ended up happy and wealthier. Is Wells Fargo (WFC) one of those companies and will Warren Buffett’s recent purchases get vindicated? As we enter the second half of 2013, this is a great discussion point for long-duration common stock investors in a market which has been strong since September of 2011. What matters most, stock market fluctuations or long-term ownership discipline?
July 23, 2013
