MBNA Corp (KRB)

Part of his top 10 in his portfolio. $28 is his model price which is a 28.5% differential.

Credit markets will develop in Asia but its longer term situation developing relative to the challenges they will continue to have in the US market where consumption is going to slow down will not be good for the company.

Good company in a good business.

Credit card market has been getting saturated. Lower interest rates should be good. May be a little early, but a decent play.

Consistant growth and should continue.