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Glass Half Full Exercise


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wow look at those numbers.

 

https://www.wfbcds.com/aboutus.jsp

 

Check out the WFB presentation from the analyst day (begins on page 100):

http://phx.corporate-ir.net/phoenix.zhtml?c=177739&p=irol-calendar

 

They rank nr. 14 on purchase volume in general purpose credit cards in the US ($13.8b) and historic charge offs are impressive.

 

Its a very interesting company. I am reminded in some way of NFM when I think of CAB, at least in terms of selection:

http://theinvestmentsblog.blogspot.com/2010/02/charlie-munger-on-nebraska-furniture.html

 

People go to a CAB store and they spend the whole day there. It hard to compete with that.

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lolz :D

 

I don't know what else we can do to get Moore back to posting.  We pulled out Sophia Vergara, as well as "Baramit".  What else can we do?  Cheers!

 

i.e. sex and politics, add to that the cheap provocation and what's left is religion.

 

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