Buffet Re Banks

Wells Fargo is Buffet’s largest stock position.  Wells Fargo is a bank.  He says that the bank has stopped offering sub-prime auto loans.  The problem?  Fifty percent of these loans go into default in first six months.

Did you know that your bank was into sub-prime auto loans?  My interpretation of this news?  Bankers today are brain dead crooks giving away your savings.  Big bank crash ahead.

Bank Crash Ahead?

If Yellen doesn’t soon yell about another massive U.S. Quantitative Easing, we may be only weeks or months away from a bank stock market crash.  Perhaps even QE will not prevent the crash that I foresee.  Bank crashes precede total market crashes.

Yell Yellen.

Bank Stocks

It's exciting.... The word "inversion" has popped up over and over again during the past year, and bank shares are still soaring as if nothing has happened.

For banks today, traditional banking activities have become an inconvenience, viewed in much the same way that casinos look upon the problem of handling huge piles of change they rake in.

There was a time when banks and casinos were at opposite ends of the financial spectrum. I'm a traditionalist, and I find it sad to realize that there's nowhere I can go to get out of the fast lane.