Tuesday, October 25, 2016 11:37:28 AM
The class action lawsuits --from the former employees that were let go because they did not fraudulently open accounts. The shareholder lawsuits. The criminal lawsuits. (Higher legal costs and potential fines).
Then there is the risk of WFC, which has been trading at a premium to its peers, of declining to trade WITH its peers.
The damage to the WFC brand is tough to quantify. Do they increase their marketing and advertising costs to defend the brand (and the potential of account transfers)?
Then there is the market risk of being in banks in general. Fed interest rate increase possible in December.
But a positive is that the short interest on WFC has increased to the point of being a potential factor for a short squeeze if there are positive developments.
Personally, I would like to see some people go to prison.
FINRA should be looking at them for violation of lax supervision--which many a broker/dealer has been fined and/or barred from the industry.
Funny thing is that Stumpf is walking away with enough $$$ to not care about being barred.
Successful Trading is the art of minimizing long term risk and maximizing capital allocation.
Recent WFC News
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