Wells Fargo Stock

I'm not a stock pro, but I thought this was worth mentioning:

My father is a bit of a stock pro (makes nearly $1m in stocks/year according to my brother). He has Wells Fargo stock (symbol: WFC) coming out of his ears from working at Wells for 25 years and getting endless stock options. And even with so much Wells stock, he -- for the first time in his life -- actually purchased Wells stock the other day. According to him (and the handful of analysts he trusts), Wells stock is worth about $40. At the time of writing this, it's down to $27. The reason it (and the stock of all other banks) is down so low is that it will take a while before they are able to fully disclose how deeply they were tied to the sort of equities that recently exploded. So investors are assuming the worst from all banks -- especially since the end-of-the-year reports are coming out soon. My father is confident that Wells did not get caught up with the equities -- except for a few minor oversights -- but it certainly could take a year to back up to near $40. So, conservatively, that's a +1/3 gain over the course of a year with low individual risk (though still general, market risk).

Anyway, I just thought I'd share my father's perspective in case it appeals to anyone else.

Thanks. I'll look into it!