Visa Inc. (V)

No better credential network to support alternative networks such as stablecoin. So there are risks, but also opportunities. Stock's being left behind as so much $$ goes to the AI trade. One of the most durable companies in the S&P.

Hasn't trimmed. In a portfolio, not all stocks move at the same time. Some take leadership, while others take a breather. Visa's been successful at gaining market share, inflation also helps. Trades just south of 30x PE, and analysts give it 13% growth. A stable hold.

Likes the long-term secular growth. 50% of world's transactions are still in cash. Seeing more cross-border transactions and leisure travel. Few competitors. Underperformed S&P since April, but still OK. Lots of $$ is chasing tech, but this name's up 27% last 12 months. 28x PE for 13-15% growth, a bit of a premium. Still likes.

Has done so well, he took some money off the table as part of good risk management. Long-term chart's performed very well. The kind of name you want in your portfolio. Continues to perform.

Drifting sideways between $325-375 since beginning of this year. Range-bound, not clear if it wants to go up or down. Consumer spending has been resilient, but he's keeping an eye on it. What happens with consumer spending is critical to this name.

To succeed, you have to do the underlying, to sell it at your level, or else you will buy it back at a higher price. A Canadian writing a covered call on a US stock that income treatment is a capital gain, which is good.

Still attractive. Continues to average up into the position. Despite inflation, still gets to participate in the growth of commerce.

Is up only 8% this year, but always buy this on weakness.

Great business, growing secularly. Dominant position in a tight oligopoly. Domestic (40%) and overseas (60%). Expects earnings to continue to compound at ~12-14% pace over coming several years. Competitive moat means not likely to be disrupted. 

Has pulled back about 8%, while equity market is making new highs. One to buy the dip. At ~27x PE, trades at small discount to MA right now. MA is growing faster, around 15%. But trades at 32-33x PE. 

He'd be fine with buying either one or both for the very long term.

It is a great company and the key benefit lies in the transition from cash to credit. They are adding more add-on services but it has under-performed the S&P 500 for the past few years. It is stable but not accelerating so there are probably better opportunities elsewhere.

He owns Mastercard but they both offer low risk and attractive returns. Visa and MC are a duopoly. Long term, Visa has done better than lately but it shows growing its top line by 10 to 12%. 

Though he's not a fundamental analyst, he can offer a small insight into the credit industry. There's been a lot of talk that's there's probably going to be some reason for the Fed to ease, and that's because the economy is probably slowing down. Purchases will be down, so Visa and the like will suffer.

That's probably why it's stopped moving up to the same degree as the S&P 500. Looking at the chart, you can see the consolidation pattern; as long as the pattern doesn't break, you're OK. Don't assume anything. If it breaks to the upside, you want to be a longer-term owner. But it could also break to the downside, possibly for the fundamental reason mentioned above. So you need to be cautious on this one. The consolidation could be a warning sign.

Has grown its dividend 23% annually for the last 15 years. Rising prices means that Visa will take a larger portion in charges. Visa is the #1 in most markets over Mastercard (also excellent), and is larger. 

She still sees upside and it is one of the best known players in global payments. It has double digit revenue growth and its value added services contribute to more than a quarter of its revenue. Still has high margins. Returned $6 billion to shareholders in buybacks and dividends last year. Has strong fundamentals.

Financials are a good idea now, especially fintech. He prefers Visa to Mastercard, because it trades a little cheaper. Is a consistent, high earnings company.