Warren E. Buffett, the nation's most famous investor, anticipates more financial services mergers but is wary of the notion that bigness alone is a virtue.

He was notably mum on takeover rumors swirling around Wells Fargo & Co., the San Francisco banking company of which he is the top shareholder. On the other hand, he said he saw no compelling reason for a merger involving American Express Co., where he also has a major stake.

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