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

To: Mr.Gogo who wrote (38729)	8/10/2010 12:24:57 AM
From: Jurgis Bekepuris	Respond to of 78576

MA's bull case is well known: global move to cashless society and huge competitive moat. MA's bear case is pretty well known too: transaction drop due to recession, government regulation in US (and possibly other countries?), not-so-friendly competition with V (and AXP, Discover that matter less), new market entrants in spite of the moat (cell phone operators, etc.). IMHO the two important bear points are government regulation - MA is a very easy target globally - and possible huge war with V where MA is in runner-up position. Also, IMHO the price of MA is still pretty high and margin of safety is not that great when all things are considered.