Michael Shulman
Michael Shulman is the editor of ChangeWave Shorts, a newsletter advisory service that helps individual investors make money on the short side of the market.
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Portfolio Killers: 8 Zombie Stocks to AvoidMarch 10, 2009 By Michael Shulman, Editor, ChangeWave Shorts |
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Zombie Stock #6: Wells Fargo (WFC)
Wells Fargo CEO John Stumpf drank from the same watercooler as Bank of America's Ken Lewis when it bought Wachovia and its $70 billion-plus in option ARMs.
It will survive, but it has no room to grow due to upcoming write-offs – three to five years' worth at a minimum.
Real shareholder value: a lot less than the current stock price
NEXT: Zombie Stock #7 – General Motors
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