Just noticed - Wells Fargo is now the largest bank in the US by market cap at 172.35 billion. WFC 172 billion BAC 170 billion JPM 162 billion C 118 billion GS 74 billion It also has the lowest CDS spread amongst WFC, BAC, C, GS, MS. “We’re more of a Main Street bank than a Wall Street bank" - John Stumpf
Aaaaaand adjust for TARP.
I think the warrants are only worth about a billski. The preferred was repayed with a common offering in Dec.
And BRK is bigger than all of them at 187bn (includng a 10bn holding in WFC). I think I’m right in saying BRK was the largest financial institution in the world at one point during the credit crisis.
Carson Wrote: ------------------------------------------------------- > And BRK is bigger than all of them at 187bn > (includng a 10bn holding in WFC). I think I’m > right in saying BRK was the largest financial > institution in the world at one point during the > credit crisis. I think ICBC is up there, as is HSBC.
Chinese banks dont count.
1morelevel Wrote: ------------------------------------------------------- > Chinese banks dont count. I directly replied to Carson, who was talking globally. Didn’t mean to derail your thread.
(Also, ftr, HSBC is a UK company.)
justin88 Wrote: ------------------------------------------------------- > (Also, ftr, HSBC is a UK company.) I know, I was talking about ICBC. They are cheaters. If you can use the market cap of ADRs (can you?) then WFC beats HBC as well.
1morelevel Wrote: ------------------------------------------------------- > > “We’re more of a Main Street bank than a Wall > Street bank" - John Stumpf Here is an interesting fact. John went to the same undergrad that I did. He was a small town farm kid from a large family. There was a piece in the recent newsletter about him. He recalls being a slow learner. The university let him in on a probationary period due to his poor exam scores and GPA. Luckily, his roommate was a whiz in math, kept him on track, and they became best friends. While John went on to run Wells, his roommate (Jack) went on to law school and become a partner at Dorsey & Whitney. I’ve met Jack in the past, and the stories he had about John were incredible and hard to believe. John got where he is today by hard work. He did not have the best test scores, a CFA, or a Top 10 degree. Keeping this tidbit in mind is important since so many of us (myself included) get bent out of shape regarding who has the highest GMAT, most reputable MBA, and the most C letters after their name. Hard work is something that will always be the equalizer. Just my .02.
QuantJock_MBA Wrote: ------------------------------------------------------- > 1morelevel Wrote: > -------------------------------------------------- > ----- > > > > > “We’re more of a Main Street bank than a Wall > > Street bank" - John Stumpf > > > Here is an interesting fact. John went to the > same undergrad that I did. He was a small town > farm kid from a large family. There was a piece > in the recent newsletter about him. > > He recalls being a slow learner. The university > let him in on a probationary period due to his > poor exam scores and GPA. Luckily, his roommate > was a whiz in math, kept him on track, and they > became best friends. > > While John went on to run Wells, his roommate > (Jack) went on to law school and become a partner > at Dorsey & Whitney. I’ve met Jack in the past, > and the stories he had about John were incredible > and hard to believe. > > John got where he is today by hard work. He did > not have the best test scores, a CFA, or a Top 10 > degree. Keeping this tidbit in mind is important > since so many of us (myself included) get bent out > of shape regarding who has the highest GMAT, most > reputable MBA, and the most C letters after their > name. Hard work is something that will always be > the equalizer. > > Just my .02. Yeah I just read his bio. Started in loan admin after a bachelors from Saint McCloud University. Wow. If thats not motivation for someone in a back office job I dont know what is.
ASSet_MANagement Wrote: ------------------------------------------------------- > Aaaaaand adjust for TARP. Adjust who for TARP?