Author name: David J Hoare

Masters of Science in Accounting, 30 YRS of business administration and financial reporting; prepared over 4,000 tax returns. Big believer in the business concept of 'marginal value' and its impact with market price. An advocate of the feedback loop in construction.

Purchased 292.0560 Shares Wells Fargo Bank

With a tangible book value of approximately $33 per share and a current market price of $33.24 per share, the Banking Pool diversified its portfolio and purchased 292.056 shares of Wells Fargo Bank this morning.

Including a transaction fee of $1 per share, the total investment is $10,000. The market recovery price is set to $53.00 per share and it is anticipated this will be achieved within 18 months.

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