The following video is part of our "Motley Fool Conversations" series, in which senior analyst Anand Chokkavelu, CFA, discusses topics across the investing world.

Warren Buffett has held significant amounts of bank stock and securities throughout the financial crisis. A few months ago, he added an investment in Bank of America (preferred shares plus warrants). In his latest shareholder letter, he gives positive outlooks for both Wells Fargo (a long-time common stock holding) and Bank of America as well as the banking industry as a whole. Anand explains.

Anand Chokkavelu, CFA, owns shares of Berkshire Hathaway, Bank of America, JPMorgan Chase, BAC (LEAPS), and Wells Fargo. The Motley Fool owns shares of Bank of America, Berkshire Hathaway, JPMorgan Chase, and Wells Fargo, and has the following options: short APR 2012 $21.00 puts on Wells Fargo and short APR 2012 $29.00 calls on Wells Fargo. Motley Fool newsletter services recommend Berkshire Hathaway. Try any of our Foolish newsletter services free for 30 days. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy.