Visa Inc. (V)

Not cheap, but it's one of only two stocks in the world. This and Mastercard have incredible runways for growth, especially Asia. No doubt in 5-10 years, there will be millions of new owns of credit cards and e-payments. Yes, you should pay up for Visa. He's still buying it.

Definitely, he'd buy it today, along with Mastercard and AmEx. The chart is superb and has nowhere to go but up.

WeChat is expanding their payment system outside of China. He has no idea how this will affect V-N. He owns MA-N and not V-N. It would take a lot of capital to compete with either of these. There are a lot of countries where cash is primarily used to settle transactions. MA-N and V-N can use technology to complete with BABA-N's payment system.

Safe to buy at this level? He owns both Visa and Mastercard. They both score well on ROE. Trading at 25 times earnings, they are getting expensive. He would be leery of buying them here. He would wait for a pullback to buy.

If you own this for a long, long time, it doesn't matter so much when you enter. Visa keeps rising. This and Mastercard will do well. You can buy it now and hold. Their Plaid purchase--an investment in fintech--will be a brilliant acquisition long-term. He continues to buy this.

He bought MA-N about three years ago and more than doubled his money. These stocks are on a roll. They are simple businesses but have a monopoly. He thinks we will get to 100% electronic transactions eventually but some countries like Italy are at 25% so they have a long way to go.