Investors awoke to headlines Monday morning touting Warren Buffett’s assessment of Wells Fargo as a “fabulous” bank that will be better off in a couple of years than if the financial crisis had never happened.

By afternoon, however, news broke that Wells Fargo will be among about 10 banks told by federal regulators on Thursday that they have insufficient reserves to ensure they can survive a deeper recession.

So which evaluation is more credible?

The bank’s stock shot up 23 percent Monday. Is it logical to assume that investors don’t really give a rip what the government’s stress tests indicate as long as Warren Buffett says Wells Fargo is doing fine?