
NYSE:V
The financial space is a great area -- he prefers the IPAY-N ETF instead. Visa has spent a lot on cyber-security, giving it an advantage. Cash still represents 32% of transactions, 50% in the OECD countries, so there is still more runway to go. Volumes continue to grow. Value may be a little rich here, based on the PE ratio, but considering its growth it is still decent value.
It is hard to distinguish between itself and MA-N. It is one of the two largest in the world with great tailwinds. The US is still moving to payment cards.