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Wells Fargo: The Bank That Works


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The market values Wells above Bank of America, Goldman Sachs and Morgan Stanley—combined.


WOW!    Amazing, Mr. Market can be right sometimes in valuing a business correctly.


Wells does what banks are supposed to do: take deposits  and then lend the money back out.


As Stumpf’s bible puts it: “There are only three ways a company can grow. First, earn more business from your current customers. Second, attract customers from your competitors. Or third, buy another company. If you can’t do the first, what makes you think you can earn more business from your competitors’ customers or from customers you buy through acquisition?”


“There’s only three jobs at Wells Fargo: taking care of existing customers, getting new customers and managing the risk of those two things,” adds  Wells’ chief risk officer, Michael Loughlin.


Wells Fargo is an excellent business model.







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