Michael M. Santiago
Summary
- Berkshire Hathaway sold a substantial stake in Wells Fargo, after owning the stock for numerous years.
- The company made numerous ethical mistakes, and it’s still undergoing the resulting punishments.
- Despite this, the company’s operations are highly profitable, and the company is one of the few banks that can drive strong double-digit returns.
- I am The Value Portfolio, an experienced analyst specializing in stock research and wealth growth. I run the investing group The Retirement Forum where I focus on ideas to prepare you for retirement.
Wells Fargo (NYSE:WFC) saw its share price suffer after a major scandal, where the company opened accounts for users without their authorization. The company saw its size limited by the Fed, a limit that remains in place. The company has worked to comprehensively fix its problems, but in the meantime, its share price has mostly recovered.
As we’ll see, with its strong financials, the company can drive substantial returns.
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