Wells Fargo and Company (WFC)

[bar1080]

Banks were one of the main beneficiaries of the late-year pop. WFC's business **is** suffering according to everything I've heard.

Buffett looks like a genius... again. His 2016 increase is one of BRK's better years in its long history. But remember BRK is fairly leveraged. Without leverage it would have only been up about 15%, which still beats the S&P by about 5% points.

Who lost in 2016? The average IHUB junk stock flipper, again. It was a rough year for players in fads too, biomed for example.

As is the case every year here, you see gambling types getting killed while sensible investors do very nicely.

As for WFC, I wouldn't be a buyer at this elevated level.