Wells Fargo - 'Mae West Had It Right: 'Too Much Of A Good Thing Can Be Wonderful'

Warren Buffett

Wells Fargo climbed to a 4-year high Friday, increasing the value of Berkshire Hathaway Inc. (BRK/A)’s stake to more than $16bn.

Bloomberg reports that the bank climbed less than 1% to close at $36.50 in New York. Earlier, it hit $36.62, the highest since October 2008. At that price, Omaha, Nebraska-based Berkshire’s 456.2 million shares held at December 31st are worth $16.7bn.

Warren Buffett, Berkshire’s chairman and chief executiveofficer, has praised Wells Fargo’s managers and business as he amassed the holding in the San Francisco-based bank over more than two decades. The lender is among his company’s “big four” stock investments, a group that Berkshire will probably continue to build over time, he said last week.

'Mae West had it right: 'Too much of a good thing can be wonderful', Buffett wrote in his annual letter to Berkshire shareholders March 1, referring to the late Hollywood actress and comedienne.

Hit the link below to access the complete Bloomberg article:

Wells Fargo Hits 4-Year High, Buffett Stake Surges

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image: © Mark Hirschey

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