The fourth, Wells Fargo, had a small decline in earnings because of the popping of the real estate bubble. Nevertheless, I believe its intrinsic value increased, even if only by a minor amount. In the strange world department, note that American Express and Wells Fargo were both organized ...
Though commercial real estate will face major problems in the next few years, long-term opportunities for Berkadia are significant. 13 Our partner in this operation is Leucadia, run by Joe Steinberg and Ian Cumming, with whom we had a terrific experience some years back when Berkshire joined ...