Fiserv Inc

FISV-Q

(A Top Pick April 13/16. Up 19%.) He likes FinTech. They are a network of pipes that connect the merchants’ processing and the banks.

(A Top Pick Aug 13/15. Up 11.98%.) Financial technology. This has pulled back a little, about 10% off of its highs. Fundamentally it is performing very well.

Electronic transactions. This benefits from many of the same trends as MasterCard (MC-N). It does electronic merchant acquiring, bill payments, network connections between ATMs, banks and merchants. Every time you do one of these transactions, they collect $.07, $.08, $.09. It is a volume business, and they keep churning. Extremely cash flow positive. In the last 10 years they have bought back a 3^rd of the company.

This is in payment technology. There is lots of opportunity to grow. This is one of the big players.