Jim Cramer Says Wells Fargo “Is the Best Position to Go Higher”

Wells Fargo & Company (NYSE:WFC) is one of the stocks Jim Cramer offered insights on. A club member who previously bought JPM, GS, MS, and WFC based on Cramer’s earlier advice and has seen strong gains asked whether falling interest rates signal it is time to sell bank stocks. Cramer commented:

“Okay, so what matters is actually the long rate versus the short rate. If the long rate’s higher and the short rate’s down, well, these banks borrow short and they lend long and that’s a sensational time for them. I think all these banks are good. Now, we own Wells Fargo for the trust and Goldman for the trust, and they’ve just been fantastic. Do you need all of them? No, but you know what, it is a little bit of a pickle because they’re all, these four are all great.

Now I know… that sounds very glib, but oddly enough, Wells Fargo, which is only up 13, I think, is the best position to go higher. But any of these are fine. I would like you to think that you only have one, let’s say, don’t put more than a fifth of your portfolio into banks. And you can either reduce all to those or sell some, but you’ve got a great investment going. I like them all. I wouldn’t sell personally.”

Photo by Erol Ahmed on Unsplash

Wells Fargo & Company (NYSE:WFC) provides financial services, including banking, lending, investment, wealth management, and capital markets solutions. The firm offers services to consumer, commercial, corporate, and institutional clients through traditional, advisory, and digital channels.

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Disclosure: None. This article is originally published at Insider Monkey.