Isn't that what we heard? Why aren't the banks rallying?
Why don't they ask that question tomorrow? They won't need to then. Because Wells Fargo reports before the bell!
But the play on Wells Fargo is Berkshire Hathaway, Well's largest shareholder.
Look at the big Berkshire, the A's, sitting at 91,750.
Then look at the little Berkshire, the B's, sitting at 2975. The spread should be 30 to 1, but the B's are at a 2.8% discount.
It makes me think that the Sept 3,000 call on the B's at $100 are a bargain!
And those prices make AAPL seem cheap!
In other Berkshire news, Ajit Jain, head of Berkshire's reinsurance group, paid $8.1 million to buy convicted swindler, Marc Drier's NY condo.
Berkshire has been touting it's reinsurance business. Anyone think Ajit would know how things are doing?
Or maybe he just wanted this pad!