Is Warren Buffett merely trying to talk up an investment? Given that Berkshire Hathaway was Wells Fargo's largest investor at the end of 2008, with a 7.2 percent stake, you might think so. But he's known as a straight shooter, and his credibility led Mr. Market to bid up Wells' stock energetically. 

Others agree, the bank is poised to weather the storm better than its big bank peers. Despite its $2.73 billion loss in the fourth quarter of 2008, analysts expect it to be profitable in every quarter in 2009 and 2010, Reuters notes. The bank says to expect $5 billion of annual savings from the Wachovia takeover. Buffett said Wells Fargo's "prospects three years out have been better than ever," Reuters reports. 

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