Investment Banking

Wells Fargo: Banking is a drag, drag, drag

Second-quarter results from Wells Fargo show the continued toll of super-low interest rates

Wells Fargo: Banking is a drag, drag, drag

Even the strongest swimmers have a tough time pulling against the tide. That is especially true in banking, as Wells Fargo’s second-quarter earnings show.

Wells is highly regarded by investors among big US banks. This is due to confidence in its management, its crisis track record, its US-focused business and the fact that, while huge, it is seen as the least too-big of the too-big-to-fail banks, thanks to a small derivatives book. For all that, Wells has been rewarded with the highest valuation of the big six US banks.

WSJ Logo
Ray Dalio Sells Last Stake in Bridgewater, the Hedge Fund That Made Him a BillionaireExternal link

Ray Dalio Sells Last Stake in Bridgewater, the Hedge Fund That Made Him a Billionaire