Warren Buffett Says He's Been Buying More American Express or Wells Fargo
Warren Buffett Says He's Been Buying More American Express or Wells Fargo
(via www.cnbc.com)
Warren Buffett tells CNBC's Becky Quick that he has been adding recently to one of the two stakes Berkshire Hathaway already has in a pair of financial stocks: American Express and Wells Fargo.
Vote of confidence on solid franchise financials
Regardless of whether the moat of both American Express and Wells Fargo has widened or narrowed, the price has become so attractive for Warren to pass out on this.
At a time when valuations do not matter, Warren Buffett has his vote confidence on franchise financials.
True to his words a two decades ago, "Be fearful when others are greedy; greedy when others are fearful."