Wells Fargo’s office tower in Charlotte, North Carolina. Image source: iStock/Thinkstock.
It isn’t a coincidence that Warren Buffett looks for durable competitive advantages and, by way of Berkshire Hathaway, is the largest shareholder of Wells Fargo (NYSE: WFC). Thanks to regulatory changes since the financial crisis, the nation’s third biggest bank by assets is more deeply entrenched in its industry than ever before.