The question is, will investors who are just following buffett into WFC come out unscathed?
At worst, Buffett sees WFC tank, and he buys the whole company for cents on the dollar for coming in to rescue it. That wipes his existing equity along w/ the rest of the shareholders.
BUT HE WON"T CARE, b/c he owns the entire company now.
I can see how, win or lose, this will be ok for Buffett.
Having said that, he's a guy that knows banks, and I think he will come out on top. No offense, but I'll take his word on investing any day over Merideth Whitney.
Buffettites, Here are links to books the guy recommends reading. If you want to be like him, I'd suggest reading the books that he recommends.
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