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Strategies & Market Trends : Value Investing -- Ignore unavailable to you. Want to Upgrade?

To: Spekulatius who wrote (28449)	10/11/2007 9:15:28 AM
From: Spekulatius	Read Replies (1) \| Respond to of 78751

Bought some EXPN.L (EXPGY) Experian is the largest credit report agency in the world. Stock is down due to concerns about growth (mortgage inquiries etc.) in the UK and the US. So far they have confirmed their numbers. Experian is the best of the breed imo, better than EFX, which is purely domestic. Their credit database is better (it is the most feared in creditboards forums due to the fact that inquiries cannot be bumped off) and 50% of their revenues are non US&UK. Experian also owns some web properties like pricegrabber (also best of breed IMO) and they diversify into developing countries (recent purchase of an agency in Brazil). Based on 2008 numbers, the PE is about 14. earnings are high quality - about 80% of their cash flow is converted into FCF )low capex requirements). I think Experian is a GAARP stock that can be held for a long time.