The Wells Fargo case

I find the case of Wells Fargo (WFC) very interesting.



Yesterday we learned that Warren Buffet has been selling 0.1% of his stake in WFC.
Check it here.
Berkshire Hathaway stake in WFC decreased "to 290,244,868 shares from 290,407,668 shares".



Why sell 0.1% of his stake? It is such a small stake.
Is Warren Buffet currently trying to sell more of his shares?




It will be interesting to hear more on this from Warren Buffet.



Also at least four people, who's opinion I value quite a lot as well, being seriously doubtful or simply bearish or short on WFC:
- Mish (Shedlock)
- Reggie Middleton
- Nouriel Roubini
- Bennet Sedacca



Mish: here




Nouriel Roubini: here

"Today Citi and Bank of America clearly look like near-insolvent and ready to be taken over but JPMorgan and Wells Fargo do not yet. But with the sharp rise in delinquencies and charge-off rates that we are experiencing now on mortgages, commercial real estate and consumer credit in a matter of six to twelve months even JPMorgan and Wells will likely look as near-insolvent (as suggested by Chris Whalen, one of the leading independent analysts of the banking system)."



Bennet Sedacca: here

As Bennet Sedacca pointed out: "Alt-A is likely our next very big problem, which could pose a large problem for Wells Fargo (WFC) which inhaled $130 billion of Alt-A from Wachovia."





Disclosure: short WFC