Visa Inc. (V)

Doesn't own, but doing work on it. First among equals. Always looks expensive. Looking just at valuation, a dynamic, secular compounder with wide competitive moat. Warrants a premium valuation. Keep holding, don't trim, unless it's become an outsized portion of your portfolio.

Trading at 25x earnings, not excessive given the fundamentals. Lots of room for growth to move from cash to plastic. 60% of business is international, where growth is about twice that of NA. He'd buy today.

Wonderful business. One of the two dominant payment networks. Prefers it to MA, as it's the largest, with the most scale, and the most profitable. Anti-trust penalties are offset by volume growth. Little capex, with less than 10% of cashflow needed to maintain the network. Benefits from trend to digital.

Rich valuation. Wait to add.

Great company with excellent business model. Scores 10/10 fundamentally for team. Largest payment processor in the world. Amazing brand reach. Expecting $276 share price. Nature of business means company will be around for a long time. Move to cashless society also good for business. Rising consumer debt also good for business. 

Owns shares of company. Very strong company with lots of room to run. Excellent brand name with very strong technology. Has owned shares before and has since re-purchased when the shares fell. Compares very well with Mastercard in terms of valuation and technology. 

It is like a toll booth and gets paid every time someone uses their card. It doesn't have the credit risk like banks do. It is hard for other companies to duplicate the processing part of Visa or Mastercard so this helps alleviate the risk of competition. There is lots of growth in the business to business area. It has had a great year because travel has taken off and lots of money is made from travel

Improving post-pandemic spending and travel have been helping. Outperforming broader index. Long runway for growth in the electronic payment space, global volumes will push higher. Strong chart. Above 200-day and 200-week MAs. Sees earnings growth, revenue growth of 10-11%. Steady.

Cross-border travel recovery since Covid is a big margin. Talk about transaction rates going down, but it seems to be able to weather those storms. Real moat around its technology. He remains positive.

Reports next week and will blow it out of the water. They carry nearly no debt, not exposed to the consumer, and have an incredible balance sheet.

It's a permanent compounder, but not exciting, not that much movement. Shares are up 12% this year, but the market is up 20%.

Visa has wonderful business economics, largest payment network, quite embedded. Both Visa and MA have less operating risk than, for example, PYPL.

They benefit a lot from travel whose levels may not match 2023's but will normalize. In B2BAlso, smaller companies use their cards more and more to pay for services. Also, there's lots of room to grow internationally.

Prefers Visa, because it trades at a slightly lower PE, growth rates are as good as MA's and it's the biggest credit card company by far. Also, Visa is concentrated in the debit market, which is where fintech is transitioning to.

Markets like China are almost cashless. Visa or MA are the two places to be. Growth of digital payments has slowed, so you might get a better entry point.

Current share price trading at discount to historical valuation.
Excellent brand with established technology.
Supports large amount of global payments.
Predictable business with growing cash flows.
25x P/E justified.