Value guru, Wallace Weitz was on CNBC recently talking about finding value in these volatile markets. He thinks it it is important between macro conditions and valuable stocks. However Weitz does think the European crisis should continue for a while.
The only bank he owns is Wells Fargo. It has been a holding of his since the 1980s. He thinks Wachovia was a good acquisition by Wells, and thinks that the Wells can earn $4 per share, which would give it a pe of 6.
He discusses some of his top holdings in the video, below is a list from
Shares Value ($1000)
% Weighting as of
Share # Change
from Last Period
Trade Impact to Portfolio (%)
Liberty Media Corp. Series A
Software & Computer Services 4,485,129
Technology Hardware & Equipment 6,213,079
Wells Fargo & Co.
Redwood Trust Inc.
Financial Services 6,485,904
Liberty Global Inc. Series C
Berkshire Hathaway B
Texas Instruments Inc.
Technology Hardware & Equipment 2,584,100
Oil & Gas Producers 1,056,360
Software & Computer Services 140,465
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