Saturday, June 20, 2015

Wells Fargo chief leads insider sales among US banks

"They exude folksiness at Wells Fargo. Perhaps it is having Warren Buffett as your largest shareholder: maybe some of his old-fashioned charm rubs off.

...the share selling habits of bank executives found a surprisingly heavy representation from the San Francisco-based bank at the top of the list.

...Mr Stumpf has sold $38.1m of Wells Fargo stock since 2009, more than the chief executives of Goldman, Morgan Stanley, Bank of America, Citigroup and JPMorgan Chase put together.

...most of his counterparts have sold nothing. is not exactly a “buy” signal in a company whose shares reached an all-time high this week and which is already the largest bank in the western world by market capitalisation.

...Goldman Sachs and Wells Fargo top ranks of insider sellers.

...why all the selling?"