5 Banks Warren Buffett Should Buy

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5 Banks Warren Buffett Should Buy

  1. 1. 5 Banks Warren Buffett Should Buy (or buy more of)
  2. 2. Toronto-Dominion (TD) Bank
  3. 3. Toronto-Dominion Bank (TD) • TD Bank’s competitive advantage is its unmatched convenience • Most branches are open 7 days a week, and on holidays • Drive-through services are open until midnight in many locations
  4. 4. Goldman Sachs (GS)
  5. 5. Goldman Sachs (GS) • Goldman Sachs has the advantage of being able to recruit the best talent on Wall Street • Warren Buffett himself referred to an investment in Goldman as a “bet on brains” • Buffett bought Goldman warrants at the height of the financial crisis, resulting in a 2.8% stake in the company
  6. 6. State Street Bank (STT)
  7. 7. State Street (STT) • The lowest level of nonperforming loans and assets of any bank • Effective 0% rate of loan delinquencies
  8. 8. BB&T Corp (BBT)
  9. 9. BB&T Corp (BBT) • BB&T’s insurance business has one of the fastest growth rates in the sector, up 15% from last quarter • Unlike many other large banks, BB&T has lots of room for growth, with a relatively small geographic footprint • Management has expressed interest in expanding in Texas, Tennessee, Georg ia, and Maryland
  10. 10. Prosperity Bank (PB)
  11. 11. Prosperity Bancshares (PB) • Named America’s Best Bank by Forbes Magazine • 0.1% of Prosperity’s loans are nonperforming • Prosperity has more than 11 times the value of their nonperforming loans in reserves
  12. 12. Warren Buffet Just Bought 9 Million Shares

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