Wells Fargo- Amazing First Loss in a Decade

in #business • 4 years ago

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In an amazing swing, Wells Fargo has swung to a loss for the first time in a decade. They cut their dividend as well.

This is a bad sign for the economy. As a major holding of Warren Buffett's Berkshire Hathaway, this disappointing slump bodes I'll for the state of the economy.

This is the week when big banks including Wells Fargo and JP Morgan Chase will report earnings, and if the earnings are negative it could set off a sell-off.

Keep your powder dry and get ready to buy some banks.

Image from Pixabay

Wells Fargo
https://www-wsj-com.cdn.ampproject.org/v/s/www.wsj.com/amp/articles/wells-fargo-swings-to-first-loss-in-more-than-a-decade-11594728673?amp_js_v=a3&amp_gsa=1&usqp=mq331AQIKAGwASDYAQE%3D#aoh=15947606903784&referrer=https%3A%2F%2Fwww.google.com&amp_tf=From%20%251%24s&ampshare=https%3A%2F%2Fwww.wsj.com%2Farticles%2Fwells-fargo-swings-to-first-loss-in-more-than-a-decade-11594728673

#money
4 years ago in #business by
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     4 years ago  

    Thanks for the info!
    And well...
    Wells Fargo is the Shittiest bank in the planet - which is hard to do!

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       4 years ago  
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