At the end of the fiscal year, Munger’s $44.76 million investment in common stocks was worth $94.06 million. Wells Fargo & Co.Wells Fargo is Charlie Munger (Trades, Portfolio)’s favorite bank and possibly favorite stock. “When Berkshire bought Wells Fargo, the world was unglued in real estate lending-driven banking panic. This was an information advantage that we had that Wells Fargo had this special capacity. When DJCO bought into Wells Fargo at $8, we knew the bankers were more rational than ordinary bankers.

Source: Forbes March 01, 2017 16:51 UTC