Is this a good buy after the negative press settles?
Is this a good buy after the negative press settles?
Oliver Jenkins
Eli Reed
Yes. Anyone who thinks this will amount to anything long term beyond some forgettable bad press is delusional.
Here is a glimpse into the future:
>joint congressional hearing
>all the people they are grilling are people whose job it is to testify to Congress
>"we set our sales goals high"
>"some bad apples were manipulating customer accounts to steal commissions from Wells fargo"
>we are actually the victim here, those 5800 employees were stealing from our shareholders
>anyone who had an account opened without consent should come forward we are really sorry but fuck you all we are wells fucking fargo
>6 months later no one remembers this.
>all the people claiming they are going to close their accounts won't because it's too much work.
>the end
Christopher Adams
> too much work
"Hello I'd like to close my account, thanks"
Daniel Scott
Yeah but still
Austin Powell
my wells fargo guy has been buying cars, real estate, and spending buku bucks on remodeling. (small town here, so we see what's going on.) I googled him to see if he was a fired one. He charges too much to handle my account anyway---I can do it online for 2 percentage points cheaper. I'll probably end up doing nothing as I've been getting 10% returns
Colton Robinson
That's not the part of wells Fargo with their balls on the bandsaway. Wells Fargo Advisors are basically independent contributors. The shit fight is about their fuck face retail bankers
Carter Bell
thanks. its my first time here. This is a great board, and I'm gonna be living here awhile. Thanks for being nice.
Adam Price
But even after all that other shit, is there really a better option than these guys?
Colton White
I am happy with my accounts, but I don't know it's any better than any of the other big banks. It helps that u used to work at Wells so I know know their bullshit from the inside.
David Cox
Yes.. i also think Office depot is a good buy right now. Stocks usually go on sell after "bad news" and then go back up.. anyone that has read the intelligent investor knows this.
Dylan Gray
Warren Buffet got into this position at $46 right?
Hunter Bell
Will touch 40.00. Wait and buy then.
Carter Mitchell
I'm interested in WFC and don't believe this will amount to much going forward. Sure it's bad press now and a few customers may close their accounts, but I see this stuff as immaterial for LT company success.
How low should I wait for it to drop before jumping in? I see it going down to $42ish.
Gabriel Reyes
You have to call them. Wait an hour for a representative to explain what happened. Then wait for a refund which could take a week or a month. Then check to make sure you got the money back. If not you have to call and wait for an hour again all for a small overdraft fee. It's barely worth it but over millions of account everyone has to call and complain about stolen money. The money should just be returned without a complaint. They are guaranteed at least 1 billion in profits from this.
Cameron Ortiz
>Not going into a branch store to close your account
>not getting a check the same day
Luke Fisher
finance.yahoo.com/echarts?s=WFC#symbol=WFC;range=5y
It dipped to $45 on Feb 11 and Jun 21 and peaked at ~$51 on Mar 21, Apr 26, Jun 2 and Aug 31, through September we have gone from top to bottom. Wells Fargo is a mature company so in theory it doesn't stray as far from its "natural" valuation, but for all we know it could have been overpriced these last few years and might stay down here.
marketwatch.com
Net income in 2011 was $15.87B ($22.89B in 2015) and its stock price was between $23 and $34. If we multiply $23 by the increase in income we get 22.89/15.87*$23=$33.17. "Rock bottom" could be that low.
Jayden Cruz
Can I as a customer hav a case on a law suit if my Wells Fargo shares went down with this fiasco, should I lawyer up and dive balls deep?
Colton Brown
Yes, in the long run, this incident is barely a blip on the radar.
Isaiah Sanders
I don't know a lot about investing but even I know you want to buy WHILE there's negative press and the prices are dirt cheap.
Tyler Lee
/reddit/
