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Wells Fargo (WFC) Likely To Remain Resilient From COVID-19 Impact

First Eagle Investment Management recently released its Q2 2020 Investor Letter, a copy of which you can download here. The First Eagle Global Fund A Shares posted a return of 14.73% for the second quarter (without sales charge), underperforming its benchmark, the MSCI World Index which returned 19.36% in the same quarter. You should check out First Eagle’s top 5 stock picks for investors to buy right now, which could be the biggest winners of the stock market crash.” data-reactid=”12″>First Eagle Investment Management recently released its Q2 2020 Investor Letter, a copy of which you can download here. The First Eagle Global Fund A Shares posted a return of 14.73% for the second quarter (without sales charge), underperforming its benchmark, the MSCI World Index which returned 19.36% in the same quarter. You should check out First Eagle’s top 5 stock picks for investors to buy right now, which could be the biggest winners of the stock market crash.

WFC) is one of them. Wells Fargo & Company (NYSE:WFC) is a financial services company. Year-to-date, Wells Fargo & Company (NYSE:WFC) stock lost 55.0% and on August 4th it had a closing price of $24.22. Here is what First Eagle said:” data-reactid=”13″>In the said letter, First Eagle highlighted a few stocks and Wells Fargo & Company (NYSE:WFC) is one of them. Wells Fargo & Company (NYSE:WFC) is a financial services company. Year-to-date, Wells Fargo & Company (NYSE:WFC) stock lost 55.0% and on August 4th it had a closing price of $24.22. Here is what First Eagle said:

“Wells Fargo and many other US banks struggled in the second quarter, weighed down by a combination of very low interest rates and an uncertain loan-loss environment as the economic disruption from Covid-19 continued to play out. Wells was particularly battered given widespread expectations that it would be forced to cut its dividend as a result of the Federal Reserve’s recently instituted cap on dividend payouts. While the path forward for Wells and other banks remains unclear, we are comfortable with the capital held by Wells Fargo and its likely ability to withstand very adverse scenarios.”

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WFC)  stock decreased by about 4% from the previous quarter (see the chart here), so a number of other hedge fund managers don’t seem to agree with Wells Fargo’s growth potential. Our calculations showed that Wells Fargo & Company (NYSE:WFC)  isn’t ranked among the 30 most popular stocks among hedge funds.” data-reactid=”32″>In Q1 2020, the number of bullish hedge fund positions on Wells Fargo & Company (NYSE:WFC)  stock decreased by about 4% from the previous quarter (see the chart here), so a number of other hedge fund managers don’t seem to agree with Wells Fargo’s growth potential. Our calculations showed that Wells Fargo & Company (NYSE:WFC)  isn’t ranked among the 30 most popular stocks among hedge funds.

The top 10 stocks among hedge funds returned 185% since the end of 2014 and outperformed the S&P 500 Index ETFs by more than 109 percentage points. We know it sounds unbelievable. You have been dismissing our articles about top hedge fund stocks mostly because you were fed biased information by other media outlets about hedge funds’ poor performance. You could have doubled the size of your nest egg by investing in the top hedge fund stocks instead of dumb S&P 500 ETFs. Below you can watch our video about the top 5 hedge fund stocks right now. All of these stocks had positive returns in 2020.

under-the-radar stock. We go through lists like the 10 most profitable companies in the world to pick the best large-cap stocks to buy. Even though we recommend positions in only a tiny fraction of the companies we analyze, we check out as many stocks as we can. We read hedge fund investor letters and listen to stock pitches at hedge fund conferences. If you want to find out the best healthcare stock to buy right now, you can watch our latest hedge fund manager interview here. You can subscribe to our free enewsletter below to receive our stories in your inbox:” data-reactid=”36″>At Insider Monkey we scour multiple sources to uncover the next great investment idea. Cannabis stocks are roaring back in 2020, so we are checking out this under-the-radar stock. We go through lists like the 10 most profitable companies in the world to pick the best large-cap stocks to buy. Even though we recommend positions in only a tiny fraction of the companies we analyze, we check out as many stocks as we can. We read hedge fund investor letters and listen to stock pitches at hedge fund conferences. If you want to find out the best healthcare stock to buy right now, you can watch our latest hedge fund manager interview here. You can subscribe to our free enewsletter below to receive our stories in your inbox:

Insider Monkey.” data-reactid=”38″>Disclosure: None. This article is originally published at Insider Monkey.

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