Buying Wells Fargo (WFC) @$29.96

It's been an especially tough couple of years for Wells Fargo. Corona virus has investors fearful of customers not being able to pay back loans - Wells Fargo has one of the biggest mortgage portfolios in the us.

Zero interest rate is another big factor to why the market has been selling off all banking stocks.

My Theory here is quite simple:

a. If you have patience, the banks will be back at their historical prices because the US government has proven that it will do anything to prop up the banks, so any worries about Wells Fargo failing are ridiculous.

b. Zero interest rates won't last forever and these rates just mean the bank is making less money, but still making plenty.

c. A lot of the declines for big companies are the result of people selling off index funds, who are then forced to sell all shares represented in the index - classic case of throwing out the baby with the bath water.

d. I believe Wells Fargo will continue paying out it's dividend which is a bonus.