Subject: Re: Berkshires 13f
Have been a customer of COF, using their cash rewards credit cards and online savings till a couple of years ago. I agree they are very well run. Have had them on my watchlist but never pulled the trigger, since I already owned a big position in Amex.

The well run credit card companies like Amex, COF and Discover have been much better investments than the big banks Buffett favors. Give me a COF any day over BAC or WFC, both as a customer and as an investor.

A mid size bank looking extremely attractive is EWBC which caters primarily to the well-heeled Chinese and other Asian diaspora in California and has a banking franchise in China. Is one of the most cost efficient banks, with ROA = 1.85% and ROE of 20+%. Was clobbered along with most mid size banks in California following SVB bankruptcy. It is down about 30% in the last year and is currently trading at a forward PE of 6.7. Too small for Buffett, but not for the rest of us.