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Meantime Could Be Lean Time for Wells Fargo Stock

T2 Partners' founder and 'Mortgage Meltdown' author Whitney Tilson says Wells Fargo could be worth $60 per share, but the road just ahead will be rocky.

Meantime Could Be Lean Time for Wells Fargo Stock
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Ryan Leggio: One bank you write about in your book is Wells Fargo. I think that was a name you were once short, then declined down to around $10, you went long. Is your intrinsic value of Wells Fargo still somewhere in the $30s and what do you think of the bank today?

Whitney Tilson: Sure. The stock is around $30 today; it has tripled since we wrote about it in our book. Very rare that we short something from $30 to $10 and then go around and ride it on the long side from $10 to $30. It worked out nicely.

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Ryan Leggio does not own shares in any of the securities mentioned above. Find out about Morningstar’s editorial policies.