Equifax Inc. (EFX)

Main business is credit searches; a good business, but competition and only so much growth. Business economics are very strong. Recovered well from data breach. Diversifying, but into businesses that are less good than core business. Good balance sheet, reasonably well run. Comes down to growth and valuation.

People want more than a credit rating, but things like a criminal record (for employers). Lower interest rates will encourage more financings in the US and drive EFX's business to do credit checks.

This was the big cyber breach in personal information on hundreds of millions of consumers. It’s a broken story. It’s early days in terms of class action lawsuits. Too risky.

He wouldn’t go anywhere near this company following their problems with the cyber attack. You just don’t know what is going to happen. In these situations, especially in the US, a very litigious environment, there is going to be a significant amount of piling on here.