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Investing/Strategies / Shorting Stocks
|Subject: Banking Nosebleed ???||Date: 11/26/1997 10:54 PM|
|Author: kschof||Number: 303 of 44599|
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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