Wells Fargo & Company

Building your investment thesis

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Analysis in progress

Fetching financial statements

5 years of income, balance sheet, and cash flow data

Reviewing 10-K disclosures

Analysing management commentary

Gathering news and analyst views

Forming the core argument

Understanding how they make money

Analysing financial performance

Mapping the competitive landscape

Reading management signals

Evaluating the growth story

Building a valuation framework

Weighing up the evidence

Tallying up the evidence