Wells Fargo & Co (WFC): The Banking Behemoth Does Right By Warren Buffett

Wells Fargo’s stock was down more than 1% in Friday’s afternoon trading. Some might describe that outcome thusly: “Investors were disappointed with Wells Fargo’s earnings.” The conclusion would probably be backed up with detail about the drop in mortgage-banking income or tight margins.

I’ll save you that short-sighted interpretation of the results and instead hold this up as a good illustration of why Buffett has made Wells Fargo & Co (NYSE:WFC) Berkshire’s top equity holding, and why you’ll only end up confused and poor if you try to take your cues from what Mr. Market is doing.

The article Wells Fargo Does Right By Buffett originally appeared on Fool.com.

Matt Koppenheffer owns shares of Berkshire Hathaway. The Motley Fool recommends Berkshire Hathaway and Wells Fargo. The Motley Fool owns shares of Berkshire Hathaway and Wells Fargo.

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