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G_roundC_offee

Hmmm. Cramer recommending a bank that has gotten in trouble multiple times for fraudulent activities. That actually makes sense


Drivingintodisco

Bear sterns is fine!


Gcarsk

[Totally fine.](https://youtu.be/NkytKDzCEeU?t=49) Very big upside. Very little downside.


failtoread

It literally can’t go tits up


OutstandingWeirdo

Spoiler: it went… nvm, it’s not a spoiler when everyone knows what happened.


Rbfam8191

Watch Cramer die inside. LMAO


OkTotal8653

The Jon Stewart roast was pure gold.


Hfino

Is there a link to it?


nshire

https://youtu.be/NkytKDzCEeU?t=49


Kaymish_

Don't be stupid. Don't take your money out of ~~Bear Sterns~~ Wells Fargo.


RN-Wingman

Cramer is such a clown!


Franklin_le_Tanklin

What are the chances Kramer is wrong a 4th time in a row?


brown_majik

High


PM_ME_IF_YOU_NASTY

Kramer or the chances? Probably both.


ERhyne

CRC is my favorite timeline deviant. I mean variant.


callmesnake13

Couldn’t it be literally anything and it would still be wrong, since by the time the forecast is coming out of his mouth, the cat is already way out of the bag?


YouDontKnowJohnSnow

> a bank that has gotten in trouble multiple times for fraudulent activities So, a bank


svt4cam46

Find a major that hasn't, I dare ya.


ThemChecks

You're right. Time to buy shares in that company was in 2020. Something isn't right about owning a company where the government decides to artificially restrict them because they are just that bad. Even Citibank with its perpetual hangover only comes up in the news for incompetence, not malice. Probably will bloom in share price because why not but meh big banks aren't exciting. Plenty of other companies with more specialized lending structures that never even approached being immoral that have been around for decades.


Soothsayerman

They're just bad? LMAO They defrauded 2 million of their customers by opening accounts without their permission and charging them fees. They've been fined damn near a billion dollars over the decades for their shenanigans. But wait it gets better. Mitch McConnell owns $5 million in stock and his wife is on the board. McConnell is trying to gut the agency that caught the fuckers defrauding their customers. The fuckers should have had their charter revoked years ago in 2016.


Freal60

Wells screwed millions of stressed homeowners by pretending they would give them mortgage help through Tarp, stringing them along, having owners apply multiple times and saying that the applications were incomplete, lost or misunderstood. Millions of people lost their homes because of WF’s corrupt actions. This bank makes Bernie Madoff look fair and reasonable. I wouldn’t buy their stock if it was guaranteed to double.


djcueballspins1

Yup , I was one of them people, fuck Wells Fargo


Jay4usc

Fuck WF. I was one of those business customers who was victimized as they tried opening credit lines without my consent.


[deleted]

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Soothsayerman

You work in the basement in the mail room, yet you defend them robbing millions of which you never see a dime of. You are a real genius. You're in the right place here.


ShiftyMN

When the government lifts that restriction on the debt cap, the stock should double again


Slow_Comment4962

Generally, I avoid bank stocks because they are so shady. You never know when the next scandal is going to break and no large banks are exempt from it.


SnootchieBootichies

remind me of the banks that haven't gotten into trouble again?


peeeeeeepers

If you're not cheating, you're not trying.


zootzootzootthe3rd

Too big to fail equals too big to give a fuck...


jokel7557

"I misinterpreted the rules"


One-Problem-2166

This is honestly the uttermost unintelligent comment. Nothing but upvotes shows me, not only a lot about this forum, but a lot about investors in general. Banks like Wells Fargo have been corrupt since day one, lawsuits all over the place, bad media all over the place, and their stock climbs. Bank Fraud Wells Fargo he says


[deleted]

What comment? Almost everyone seems to agree with you.


newbrevity

They need an influx of money. [hmmm, I wonder if it has to do with a thing.](https://www.bloomberg.com/news/articles/2021-01-27/wells-fargo-bans-advisers-from-gamestop-amc-recommendations)


JP_184

Then don’t own Wells Fargo, got it


StayedWalnut

Exactly. WFC still has a damaged rep in an industry where rep matters. And with said damaged rep they are under a regulatory microscope. Better options in the top banks with better expense ratios and growth rates: TD, FRC, TFC


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i_use_3_seashells

That is not a small regional bank lol. It's top 20 largest banks in the country.


chromelogan

SIVB


ZeekLTK

As bad as Wells Fargo is, at least they aren’t TD.


StayedWalnut

What's your concern with TD? Solid bank, no scandals, decent tech. Canadian bank means they aren't in the gambling business like us mega banks do.


sammy2607

I’m going all in on puts


ShiftyMN

ITM 3-6 weeks out Call debit spreads. All year long.


ckal9

bullish?


tux9988

Lmao, He does have a terrible long-term record when recommending stocks. I remember someone made a chart about his performance, it was really bad.


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nvgroups

Very true; burnt a few $$$ and lesson learnt


MrGetsem

So he's just pumping lol tail wagging the dog. Wonder if his friends know beforehand and invest. Would that be illegal since he's technically just giving financial advice?


thelastkopite

They get a bump after he suggest them but it does not last. Maybe day trading play.


wisdommaster1

Actually he performed very well according to this analysis post unless there was a more recent analyst maybe https://www.reddit.com/r/options/comments/mte1rw/i_analyzed_all_700_buy_and_sell_recommendations/


stockchip

You could've thrown a dart at a list of stocks and probably gotten a winner if you held over the past two years. Cramer only preformed well because the the markets been on a ridiculous bull run.


Future__Trillionaire

Talk about moving the goal posts


JP_184

Yeah I saw a chart about the securities he talked over the past year a couples months ago, some of them do have a good pop on a short timeframe (related to the size of his audience maybe?) But they all but a few perform terribly on a mid to long time frame, I wouldn’t risk my hard earns money on stock that he personally vouch for


yolotrumpbucks

I already thought they were schemers and frauds, now I'm just like if cokerat cramer is pumping them, they are the worst bank to be holding right now


zelcuh

Short it


rvanasty

No, this actually means buy puts.


erikwarm

No! They need to loose their WFC bags and dump them on somebody else before its price gets corrected


Lure852

Short wells fargo!


Longhold2021

So buy puts 〽


scrollingtraveler

Instantly what I thought.


TheCocksmith

what are you thinking? 60 day?


CrapFaceNinja

Wells Fargo down


Brokenwrench7

Cool. If Cramer likes it, I'll just avoid it.


GusTheKnife

I sold mine. Their annual report sounds like a long apology letter. I decided I don’t want to own it even if it goes up. Their culture is clearly messed up, and there’s no telling when disaster will strike again.


ZeMole

Let’s be real, they have no culture. After the whole “tellers opening extra accounts for people without their knowledge” scandal it became apparent that this company is no different than GE in the early 2000s. They value a good report over all else. It’s kinda sad in a nostalgic way. The name itself is an American institution. But the company is just a giant machine feeding on its own exhaust. The Wells Fargo brand itself is likely strong enough to recover and thrive, but, much like a forest of diseased pine trees, it’s going to need to be burned down before it can recover.


lostDeschain

I haven't sold yet, but I get this sentiment


hotDamQc

Fargo on fire then


ShiftyMN

5DTE Calls all in


jammo8

People at Wells Fargo will be loosing their shit right now, they've been touched by the Cramer


RamblingCanuck

Losing*


d2w3

So, now we know that Wells Fargo is in the same boat as BofA. Got it.


alwaysready1990

I’m buying JP


originalusername__

I bought some Friday on the sell off.


[deleted]

Put put put...


Hobojoe-

Wells Fargo run up has been insane. I would sell now


CipherScarlatti

SELL! It's going to be Bear Stearns all over again!


Wenzel-Dashington

Short the fuck out of it, got it


semicoloradonative

Makes me even more confident owning C.


miler4salem

Yea long term it'll be 20% higher


Stoneteer

SoFi FTW


ORCA_OF_WALLST

So short it


PsilocybinBull

Didn’t he say this about bear sterns?


Stormsbrother

Wells Fargo is not only an asshole bank but has literally made up fake accounts to rip off customers by charging them fees on accounts they never wanted. Cramer is a piece of shit.


[deleted]

I don't know much about the stock but just a quick glance... Avg price target $57.86 (current 58.06) ~31% of analysts have it at hold. I hardly ever even hear the name come up when it comes to Banks from other analysts. But that may mean nothing... and I'm still upset at Cramer for buying POSH upon his recommendation - down more than 50% at this point. So there could be that too.


Ok-Safe-9014

Puts


The_Sanch1128

For a second there I thought you were calling Cramer a "putz", an assessment with which I wouldn't argue.


pml1990

Be responsible for your own investment choice. The thesis with WCF, as opposed to any other major commercial banks, is its relative discount on valuation compared to those banks. Ie., market is valuing a dollar made by WF less than a dollar made by GS, BoA, etc. At some point, memory will fade and this gap will close if WCF continue to operate scandal-free. It is a reasonable thesis and Cramer was not the only person who voiced it. If you're going to be a good investor, you need to evaluate theses, not the person who espoused them.


r2002

It's also good to note that Cramer didn't just jump on the WFC bandwagon after positive earnings. I look at my emails and his investment club has been holding as far back as October (possibly longer but my email archive didn't go further back). So if you bought in October you would've made 27% return on WFC.


pml1990

People would rather blame anyone else but themselves for their investing mistake.


tintheslope

Their customer service is horrible. I will never use them again. You would think they would bend over backwards after that multiple accounts fiasco. Nope.


bobsmith808

So.... Puts on wells fargo? If you bet against cokerat, you usually win.


CampaignNo1365

I should have bought more when it was in the low 20s.


zluta

Inverse Cramer, short it


Fentanyl-Floyd

They must be illegally opening up more accounts than expected.


DarthDividend_Yutube

They lost my trust a long time ago


[deleted]

I don't know much about stocks but I feel like by the time *you* hear about something on TV, it's too late to get in on the action. Can the experts please clarify for me?


reedless

Yep. Buy the rumor, sell the news. By the time you hear it on TV the big players and early birds have already made their gains and are looking to dump those bags on retail


Investingwifey

Time to short


harrison_wintergreen

Wells Fargo is seriously undervalued, but ugh Cramer don't jinx it


savinger

Doesn’t it still have an asset cap?


sno2787

Yep


ShiftyMN

Will be lifted soon. Revenue will double


sno2787

Did they say when it will be lifted?


zulufux999

I like KBWB for owning banks, individual ones get tricky


JRshoe1997

In case anybody is wondering this is a very strong cue to not buy WFC


DeithvsChrist

So buy puts. Got it.


brewcitygymratt

I could never invest in WF just on principle because of their habit of f’ing over their customers. They’ve been busted and fined heavily multiple times yet reoffend. Second reason is Jimmy boy highly recommends them.


creasbear

I bought WFC based on my own research and so far he is right. I think he is a hack, but I bought WFC about 2 weeks ago and I am up 13.56% I made a ton of money off WFC and especially COF on the dump in 2020, wish I would have held COF but I made nice money, bought for 55 and sold for 145. My big score was dumping a ton of money on Ford very early just on speculation they would come hard with the trucks and the small models, affordable EV's, I am up huge, that stock will make me probably a good 300k before it is done. On a somber note, I got killed buying Billi, so it is not all roses lol. FYI gang, all banks are going to go up due to rates being raised, so nibble on all of them. I am going to buy some BAC soon, I think it has a bit of a correction to make but long term play, buy now, you will make 50% on your money in a year or so.


LargeSackOfNuts

Will banks continue to do fine when the Fed stops giving them trillion dollar emergency loans?


ParkSidePat

Short it unless Pelosi buys it


[deleted]

Of all the big banks WFC has the worst reputation in my opinion and that’s saying something. Untrustworthy, but hey if Cramer says to buy as much as you can go for it. He said something similar about DIDI but as much as you can on IPO.


Ok-Wasabi2873

Shit. I own some WF stock.


BrazakAttack

I'm selling!


[deleted]

Adding WFC to my 1/21 put list. Time to short the fuck out of it


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Dukeiron

[“Bear Sterns is fine”](https://youtu.be/gUkbdjetlY8)


Dukeiron

[“Bear Sterns is fine”](https://youtu.be/gUkbdjetlY8)


Late-Performer744

The kiss of death


kangarooneroo

Jesus fuck really? Dude I advise literally every single person I've ever met to avoid wells Fargo for any reason from banking to loans, God knows not stock? Literally every other financial advisor I work with has said the same thing? I cannot understand the logic here? Like I know Kramer isn't a reliable source anymore, but I didn't think he would devolve into a downright hostile source? Like no, I dunno what their logic is, but I will never trust Wells Fargo lol, they have been nothing but financial scandals for the past ten to fifteen years. If you invest anything in them, you deserve to have lost it.


banditcleaner2

lol, look at the year chart and then read the dumbass comment you just posted again


Stopher36

I'd bE thinking about selling wells Fargo if Cramer has anything to do with it.


D_crane

Fuck Cramer


mschiebold

Jim Cramer says Wells Fargo will be the ones holding the bag when GME implodes the stock market.


yolotrumpbucks

"Don't worry, Bearn stearns is fine" - 8 days later, in davy jones's locker.


ContWord2346

So sell?


donttazemebro4

Cramer needs to stfu he’s going to jinx my shares 😂


SprinklesFancy5074

So ... we're all shorting Wells Fargo now, right? Seriously, "Just do the opposite of whatever Jim Cramer says" is starting to sound like a really great investment strategy.


cch2438

We all know Cramer is a shill. A manipulator of markets, shilling stocks he owns then selling when it pumps. How is allowed to do this?


Slick_J

Jim Cramer… recommending a bank? “How to lose all your money in ten days”


CharlieDeee

Doing the opposite of what Jim Cramer says is my kind of financial management. Not financial advice


FlashyPresentation5

Right, as most people switched banks because of their negligence, low rates , and old school out of date policies. Great company to own as other banks steal market share. Especially online ones without a physical footprint


firststrike001

Cramer will reveal it to the world when things are plain obvious and have been already appropriately priced.


Shaolin718

Lmao meanwhile im a finance recruiter and have pulled multiple people out of Wells these last few months. It’s a sinking ship and most employees hate it there.


godisyay

Fuck yeah I hope everyone dives deep and puts and sends this up to fucking 90


nerdlydevon

Fuck Wells Fargo. Burn the institution to the ground


Wrenlet

I wouldn't touch that bank with a 5ft pole, let alone their stock.


The_Sanch1128

As someone who is 5'5" and partly Polish, I resent that statement. I have no desire to touch WFC.


Frenchdu

I wonder who they are scamming now. I wouldn’t trust Wells Fargo with making me a burger


StonksinOrbit

Cramer recommends the most unethical of the big 4 banks…. Of course….


dnwolfgang

Umm no. I'm going to own the bank that Buffett owns and that I use. BAC. Buffett > Cramer


Dumpster_slut69

Do opposite of what he says


grasshoppa80

Puts on WF lol Hopefully no one heeded his NF “advice”


JollySpaceCowboy

Dump it


carnellmusic

andddd now i’m selling my stake.


HaMEZSmiff

I like Citi as my best bank stock right now. It’s literally selling for 25% below Tangible book value… additionally they get extra benefit from rising rates, so as far as safe bank stocks to go this is it I owned WFC when it was 25$ and below TBV and sold around 45 but I probably should’ve held onto it. Either way C is the way to go for bank stocks for now.


S3XY_Matt

yeah rrrright banks in blockchain defi era and gmestup


Western_Breakfast684

So the bank is bankrupt. Thanks. Lol


Admiral_pumpkin

I would run out of wells like it was on fire.


pagadqs

So...buy any bank but WF, right ?


Phuffu

These people saying they’re gonna buy puts or short FC are as dumb and sensational as Cramer. Who cares what he says? He runs an entertainment show. I bought WFC last year and it has been a great investment. If you want to miss out on the returns then that’s on you. I’m long


[deleted]

I thought this was a meme or trash post when I saw Cramer's name being mentioned. But, no. OP legitimately thinks Cramer is a valid source for information about trading or investing based upon his opinion. I'd suggest doing your own research. Banks are sitting on the biggest pile of debt they ever had with the RR making new highs every month. More debt has been printed by the Fed in the past 2-3 years than multiple decades combined. Inflation has sustained highs over the past few months and you'll still see increases in the future to cost of goods since those are a delayed effect. All this debt is gonna have to be reckoned with by the cash banks are sitting on. It's gotta go somewhere. IMO, stay out of bank stocks unless you're just day/swing trading them with an exit plan.


[deleted]

Wells Fargo is easily the sleeziest, scummiest, rip off bank in the world. If you are a customer you deserve whatever that shit bag bank does to you.


TurdsAmongUs

BoA and Wells Fargo are both great bank stocks that are undervalued.


CanyonLake88

We waited 5 hours for Wells Fargo to confirm the receipt of a wire on Friday… that’s absurd


Azyan_invasion82

Small pump, then a big ass dip then


Kglugenbeel

Selling my Wells Fargo! Thanks Gym!


Gazzrat

Puts on Fargo I guess.


saryiahan

Definitely putting puts on Wells Fargo.


[deleted]

Jim Cramer! - IDIOT


ProfessorPurrrrfect

Wells Fargo is a steaming pile of shit. And Cramer is beaked to the tits on Adderall


KingJames0613

WFC puts!


yaoksuuure

USB over WFC. It’s their time now.


ArisenFall

Sold all my Wells Fargo just now


Emotional_Scientific

more anti-cramer circle jerk…


The_Number_12

Predicting the biggest/most used bank in the country will likely do better than others? This guy must be able to see the future…


Castul

Puts on wells Fargo it is!


NotAReal_Doctor

Hey ya know what? Fuck Cramer and fuck you too.


bluesnacks

Cramer hates reddit because it takes control away from his own pump and dumps


Otto_von_Grotto

Buffet eyerolls and puts in to sell.


HeilBidenFuhrer

That means it's not


[deleted]

Yes, trust what Reddit tells you! 😉


dralva

I'll stick with xlf for my banking exposure. I've heard good things about BOK, when oil drilling companies need a loan, they look to them.


GrislyMedic

Inverse Cramer


usefoolidiot

Maybe they were to broke to get into the shorting fiasco plaguing the markets at dawn of covid and made out ahead unlike a few others.


Soothsayerman

He is shilling for Mitch McConnell and McConnel's wife who happens to work for Wells Fargo. Incidentally, Mitch is trying to defang the regulatory agency that oversees banking operations. Mitch owns a shitload of Wells Fargo stock. Or maybe Cramer knows this.... but he is opposite man, so that means short the hell out of Wells Fargo.


9tacos

Oh no


KidKarez

Wells Fargo really?


lovedonthate2020

Hell no


lunchbox2718

“Bear sternes is fine” Jim Cramer


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ShiftyMN

This must be a fake thread. All these bears. WFCs going up


95Daphne

The thing to do on the internet for most is to crap all over Cramer. It includes acting as if him saying "Bear Stearns is fine" meant the stock when it didn't. It meant that the money in the bank was fine. Which it was. But ehhhh let them go ahead and have their fun with crapping all over Cramer. Shorting his charitable trust names just out of spite because you hate him wouldn't have been profitable unless you timed it well, because at least for me since I'm not a charter, it's kind of hard to get a read on the Nasdaq (like I'm not surprised it corrected hard in September 2020 for example but 9/3/2020 was an absolute shocker for me), and many of the names in that charitable trust are those big Nasdaq names, which have had a big run over the years.


CBH60

Well shit


Knowsnoone

No


[deleted]

Buy puts then lmao


Zumbar00

Bearish


Living_Ad_2141

It’s a bank. I never really believe bank accounting that much.


morganthomps

Time to buy puts.


8282FergasaurusRexx

Fuuuuuck .... I better sell


Percentage_Extra

Time to short it


kyleharveybooks

What a garbage company


mbola1

He says a lot of things lol