What an idiot! Nobody has ever heard of this guy and he doesn't even back up his downgrade with real facts. More or less, if you read between the lines he downgraded the stock because he felt like it. I believe that he saw that the debt buyback was going to affect earnings slightly (although it will have a very positive effect long-term) and he saw a chance to push Wells Fargo down a little bit and pick up some shares for himself. In a few months he'll upgrade the stock again. What a joke! Believe me, Wells Fargo is doing more than ok, it's doing great and this will be a $70+ stock this time next year if we haven't already split by then. Good luck all!