American Express is at the top of my buy List With a Projected P/E ratio of 14.6
The beauty of a stock market crash is: Even quality stocks become affordable.
Globally, the growth of the credit card market is driven by countries like India.
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There are essentially three credit card providers worldwide that can be used for payments everywhere: American Express, VISA, and Mastercard. The barrier to entry is steep. For new providers, it is nearly impossible to penetrate this market. This is known as the chicken-and-egg problem: Merchants do not accept a new credit card provider because it has no customers. The new credit card provider cannot find customers because its card is not accepted by any merchants. The American credit card companies are also present in emerging markets like India....
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