Warren Buffet Ends Association with Wells Fargo

Wells Fargo was one of the top investments of Warren Buffett-owned Berkshire Hathaway but not any more now.

Many scandals affected Wells Fargo in the last few years and they included charging foreign exchange above rational levels. Furthermore, it also had accounting problems and legitimacy issues. However, Berkshire Hathaway severed its links in Q1 of 2022 according to a filing with the Securities and Exchange Commission.

Warren Buffet's decision was due to fundamental difficulties of the business though he continued his position in other companies facing similar problems.

His argument was simple. One can buy a business when its starts losing money but not when the reputation was at stake.

Exposure to Banks

Wells Fargo is an important stock in Berkshire Hathaway's sto...

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