Warren Buffett: How to Run a Bank
Warren Buffett: How to Run a Bank How do you run a bank well? A shareholder asks Warren Buffett about Wells Fargo's competitive position after its big merger with First Interstate, and about its large share repurchases. Buffett's answer: Wells should repurchase shares only if they're below intrinsic business value, and that's a calculation you'd have to ask them about. He says an in-market merger can bring dramatic advantages, but that sometimes it just makes a bank do what it should have done anyway. He's not convinced the savings come only from scale. Transcript (Sponsored link): https://fi…