Change of heart on BofA Warren????
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Submitted by Tyler Durden on 02/27/2012 08:31 -0500
Becky Quick
Warren Buffett
Wells Fargo
Following on his latest bash session of gold from the weekend, when Warren Buffett dedicated a substantial portion of his annual letter to shareholders for the now routine and perfectly expected gold blasting, the Octogenarian of Omaha revealed to his faithful personal scribe Becky Quick that of all banks, he would recommend Wells Fargo as the single best bank to own. Naturally, as was previously lampooned by William Banzai, Americans, even those paying a 15% tax rate, would "do absolutely nothing for Warren trading book" if they were to buy gold instead of pooling their cash into the ponzi. As for buying WFC vs. gold, the chart below will show why the world is increasingly taking any proclamations from the man whose net worth was bailed out by the government, with humor more than serious consideration.Presenting the past decade's return of Wells Fargo and of gold. No commentary necessary.
And as a reminder, here is just why Buffett happens to be a big fan of bailouts, especially of Wells Fargo.
The only conclusion we can make is that gold never benefited from taxpayer-funded cash infusions aka bailouts.
http://www.zerohedge.com/news/warren-buffett-favors-wells-single-best-bank-own-compartive-returns-analysis?utm_source=feedburner&utm_medium=feed&utm_campaign=Feed%3A+zerohedge%2Ffeed+%28zero+hedge+-+on+a+long+enough+timeline%2C+the+survival+rate+for+everyone+drops+to+zero%29
slaughterer
slaughterer's picture
All technical indicators point to the market rolling over this week, and now they roll out this plutocratic mummy to keep it from doing so. (A slight delay in operation robo-kill phase 2--that is all. )
Realist - Everybody in America is soft, and hates conflict. The cure for this, both in politics and social life, is the same -- hardihood. Give them raw truth.
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