Monday, 8 October 2012

Share recommendation: buy American Express

Regular readers of my pieces on will know that I turned bullish on the financial sector over a year ago and it's been so far so good.
Two companies that have done well for me are Mastercard (NYSE: MA) and Visa (NYSE: V) both are near all-time new highs with Mastercard up 27% and V up 34% so far in 2012 - but neither are quoted in London and so are not available on BullBearings.
One similar company which I have now bought is Dow member American Express (AXP) which is up around 18% so far this year but I think it has more to go. AmEx is well known for the ubiquitous credit and charge cards but also is has a very profitable consumer and business travel division and offers other financial services aimed at affluent and time starved consumers.
AmEx has a very powerful and affluent global database which gives it a great way to market products and services with partners, remember every time you use your card they know every hotel you book, flight you take and even that sneaky late night pizza you ordered, it’s all being tracked and analysed.