Ally Financial (NYSE: ALLY) made headlines earlier this year when Warren Buffett, the chairman and chief executive office of Berkshire Hathaway, added it to his company's portfolio of investments. It is obviously a big deal when one of the world's greatest investors decides to put money in a stock and it attracts a lot of attention from regular investors wondering if they should do the same.
Is it one you should consider adding to your portfolio?
Ally Financial was one of the first banks to offer entirely online services after it spun out of General Motor Acceptance, the auto financing arm of General Motors, back in 2010. Ally is a full-service online bank, but true to its roots, it specializes in automobile loans and is in fact one of the leading auto lenders in the U.S. As of the end of the third quarter, it had $178 billion in assets, making it the 22nd-largest bank in the U.S.
Source Fool.com