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,kschof
i think one of the fools had a position shorting wfb ~3-4 mos ago . . .
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