Here are Doug Kass' top thoughts on some of the biggest stories of the week.
Putting a 'Top Rope Elbow Drop' on Wells FargoSpeaking of WWF, I am now putting on a 'top rope elbow drop' on Wells Fargo.
This is my new term to connote a very large position. (I have decided to further add to Wells Fargo ( WFC) Tuesday -- abandoning my $52 buy limit).
In the late '80s and early '90s, the most spectacular finishing maneuver was not Hulk Hogan's 'Atomic Leg Drop,' Ric Flair's 'Figure-Four Leglock' or Jake "The Snake" Roberts' 'DDT.'
It was "Macho Man" Randy Savage's 'Top Rope Elbow Drop.'
WFC is on my Best Ideas List and my 12-month price target is about $62.50. Using a three-year time frame -- I can get as high as $85/share.
On a risk-adjusted basis, I believe WFC is one of the most attractive long positions in my portfolios.
- How quite a few retail investors have more risk in their portfolios than they think.
- How to take a basic look at investor bases.
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