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Subject:  Banking Nosebleed ??? Date:  11/26/1997  10:54 PM
Author:  kschof Number:  303 of 44633

Fellow shorting Fools:

What am I missing when I look at Wells Fargo Bank and see a PE of almost 30 again? I know Berkshire Hathaway supposedly still owns about 6 million shares and since I live in California I know they are a strong player on the West Coast and are aggressively following cost saving strategies such as online banking and supermarket "branches". But a PE of 30 times for any bank gives me a nose bleed!

Can any of you share a cautionary tale about why I should NOT short WFB? Conversely, further evidence to corroborate my inclination to do so is also welcome.

Thanks in advance,
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