Warren Buffett at Berkshire Hathaway’s 2018 Annual Shareholder Meeting on 05-May-2018:

Wells Fargo is a company that proved the efficacy of incentives. And it’s just that they had the wrong incentives. And that was bad….The fact that you are going to have problems at some large institution is not unique. In fact all the big banks have had troubles at some point or another. And I see no reason why Wells Fargo as a company from both an investment standpoint and a moral standpoint going forward is in any way inferior to the other banks with which it competes. They made a very big mistake….But I like it as an investment. I like [CEO] Tim Sloan as a manager. And he is correcting mistakes made by other people.

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