Buffett first announced his $290 million investment in Wells Fargo WFC 1.20% in his 1990 annual letter to shareholders. Bank stocks were being battered by the savings and loan crisis, and Buffett characteristically took advantage of the market turmoil to buy into one of the highest quality banks he could find.
巴菲特是在1990年致股東的公開信中首次披露他在富國銀行(Wells Fargo)的2.9億美元投資。當時銀行股受儲蓄和貸款危機沖擊,巴菲特亮出他招牌式的投資策略,利用市場動蕩的機會買進了當時他能發現的最優質銀行股之一。巴菲特說,他自己有個規矩,通常不愛投資銀行類股【但他已經一次又一次地打破了這個規矩,第一次是富國銀行,近期的有美國銀行(Bank of America)和美國合眾銀行(US Bancorp)】,但當時富國銀行實在是太便宜了,不容錯過。