You are correct, it did not require much to outperform C, WFC and BAC. I outperformed them myself. By not owning any mortgages and not even a house, I easily did much better than most banks. As a matter of fact, I sold my house in 2004 and recently bought one 15% larger and much newer for about 25% of the price of my old house. Granted the new house is in North Las Vegas and the old house was in Orange, California, but the quality of the new house is much better and I bought it as a place to live not an investment. Nevertheless, I will make money on my new house eventually. I think the banks forgot the first rule of business-which is, don't lose money. They were simply trend followers who didn't stop to think that trends do change. The prices of houses were simply unsustainable.
Regarding WAYN, I am just afraid you will miss out on a good investment. They had the sense not to make the stupid loans that other banks made. My guess is that it will go to at least $15 within 5 years. Book value is over $12 now and in 5 years I think it will be over $15 and,in normal times, I don't think there is any reason that it should not sell at least at book value. I could be wrong, but I will patiently wait. I don't think we are too far away from when they will increase their dividend to at least partly recover the cut they made in the wake of meltdown. If they restore the dividend to $.48 they used to pay, it would be yielding over 8%. That would certainly have a tendency to attract investors and drive up the price.
I have no disagreement with what you posted except that I don't think WAYN will decline from here. Best of luck to you.