Wells Fargo 's business is going gangbusters -- its first-quarter earnings show this: Revenue for Wells Fargo (ex-Wachovia) grew 16% year on year. My problem is that the bank's balance sheet still looks excessively leveraged, and I think the company's sterling reputation ( Warren Buffett's Berkshire Hathaway is the largest shareholder) may be causing investors and analysts to gloss over that fact.