There is also a column on this month's Kiplinger's, calling bullish on Wells Fargo. I believe it was written before Buffet disclosed his increased stake.
If you want some good commentary on high inflation, read Warren Buffett's reports (letter to shareholders) from the early 1980's, available on his website. He describes the effect of inflation on a business and how it interferes with its ability to deploy capital, and the effect it has on total shareholder return (best described as walking up a down escalator).First, the straightforward: Buffett increased his stakes in Wells Fargo and US Bancorp in the first quarter. The buys are consistent with Buffett's bullish comments about both banks during Berkshire's annual meeting in early May.
http://cosmos.bcst.yahoo.com/up/fop/embedflv/swf/fop_wrapper.swf?id=13527346
Disclaimer: My wife and I are looking forward to hyper-inflation.