Wallace Weitz on Finding Value Today, Wells Fargo and the Euro Crisis

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 http://www.gurufocus.com:

Ticker	Company	Industry	Shares	Value ($1000)	% Weighting as of 2011-06-30	Share # Change from Last Period	Trade Impact to Portfolio (%)	Holding History
AON	AON Corp.	others	2,383,886	122,293	5.4138%	+1.96%	+0.1%	History
LINTA	Liberty Media Corp. Series A	Media	7,188,310	120,548	5.3366%	-3.44%	-0.19%	History
MSFT	Microsoft Corp.	Software & Computer Services	4,485,129	116,613	5.1624%	-5.94%	-0.33%	History
DELL	Dell Inc.	Technology Hardware & Equipment	6,213,079	103,572	4.5851%	-4.81%	-0.21%	History
WFC	Wells Fargo & Co.	Banks	3,544,150	99,449	4.4025%	New Buy	+4.4025%	History
RWT	Redwood Trust Inc.	Financial Services	6,485,904	98,067	4.3414%	+3.1%	+0.13%	History
LBTYK	Liberty Global Inc. Series C	Media	2,286,517	97,634	4.3222%	+1.14%	+0.05%	History
BRK.B	Berkshire Hathaway B	Insurance	1,186,488	91,822	4.0649%	+13.37%	+0.48%	History
TXN	Texas Instruments Inc.	Technology Hardware & Equipment	2,584,100	84,836	3.7556%	+1.8%	+0.07%	History
COP	ConocoPhillips	Oil & Gas Producers	1,056,360	79,428	3.5162%	+0.15%	+0.01%	History
GOOG	Google Inc.	Software & Computer Services	140,465	71,129	3.1488%	+36.45%	+0.84%	History

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