Full disclosure. I made a mistake in my original DD. Thought V had ~400M outstanding shares, making for an attractive p/e of around 20. On further look, the banks are holding an additional 3-400M shares so the real p/e is already well above master card's, and V appears fully priced in the 60s. It's still a good long term investment, but I don't think it's the 2-3 bagger I thought it might be. So I closed out my position at a nice 10% gain in 2 days and broke my losing streak.
I got stopped out at $66.35. Good thing, because it closed at $59.73.
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Retired in 2006 at age 49.
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There are very few financial catagory winners these days, so like many, I knew it would drop back quickly, and it did, but I am waiting for next financial show to drop which will shake Visa down to original offer in time.
These banks have to start unloading here soon. Those guys stand to make some serious bucks. Perhaps they can sell 'V' and invest in some more subprimes - my niece doesn't have any current income, education or earnings potential in the next 16 or so years but maybe she could get a loan. She's 2.
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