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To: upanddown who wrote (56732)	1/22/2016 4:28:51 PM
From: Paul Senior	of 77746

AXP. Okay, you guys have the cards; you don't give me any confidence that the merchants you are dealing with see the advantage of AmEx though. (Costco/Fidelity giving up on them) I suspect AXP stock will recover. Right now it's just likely to be one of those stocks that just goes up without me.

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To: upanddown who wrote (56732)	1/22/2016 4:37:39 PM
From: Wallace Rivers	of 77746

Wow, hadn't heard about Fido ceasing the AMEX affinity card. That's not good either. I know how much I spend, in this cash less society, I'm guessing 85% of all expenditures, cash or charge. And, the Fidelity market (and, to a much lesser degree Costco) brings in a bunch of high net worth households.

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To: Jurgis Bekepuris who wrote (56731)	1/22/2016 4:57:45 PM
From: Wallace Rivers	of 77746

The Fido loss is not as big as the Costco loss, but you can't sugar coat it. Since 2003, 1.1 billion in reward dollars has been paid out. That's 2% of dollar purchases, not an insignificant loss by any means. I like my AXP purchase less and less.

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To: Wallace Rivers who wrote (56734)	1/22/2016 5:07:33 PM
From: LTBH	of 77746

Believe you might find Costco membership much larger then you think: "Costco employs about 174,000 full and part-time employees. [4] In 2015, Costco had 81 million members. [20]" en.wikipedia.org Have been a member of Costco from its early days (Price Club) and believe its loss to AmEx is easily 12K annual charges per member .... provided the member switches all charges to the new Visa/Costco card. Luck LTBH

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From: Paul Senior	1/22/2016 5:11:50 PM
	of 77746

Construction companies. I am not doing well with this sector: CBI: in@$45; now $34 SIEGY: in @$91; now $88 FLR: in @$61; now $43. I've been in FLR since 2012. I've had red on my screen on FLR, almost from day 1, and I'm tired of seeing that. Company and numbers (metrics) still look ok to me. Going on four years of red though...there's either some impairment with the company or with my brain. At some point, I'll give up and make at least a partial sale and move funds elsewhere. Meanwhile, I reentered TPC on the announcement of apparently (?) unexpected year-end results and poor(?) 2016 expectations. TPC says: " ...The Company now expects to report revenue of approximately $5.0 billion for 2015)...Revenue for 2016 is preliminarily expected to be in the range of $5.1 billion to $5.6 billion, with diluted EPS of $1.90 to $2.20." Company has been profitable 8 of past 10 years. In 2009 the avg p/e was 6.5x. Applying that multiple to $1.90/sh, I get a stock price about $12.35. Stock closed at $10.68, about when I bought today. I expect that if prospects for 2017 look good, the stock could gain back its frequently seen 10x multiplier, or maybe $19/sh. Of course, this primarily depends on management being right in their "preliminary expectation". But why should they be? They haven't been right about 2015 (apparently) or in couple of other years either. Still...I'll let myself in for a few shares. finance.yahoo.com finance.yahoo.com

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To: Paul Senior who wrote (56733)	1/22/2016 5:16:23 PM
From: Keith J	of 77746

I have one AmEx, as does my wife. Once Costco switches, I will keep the card but it probably won't get used much (it's the Hilton one with no annual fee). My wife's card is the Starwood one. Jury is out currently on what happens once the Starwood/Marriott merger is completed (Marriott has Chase Visa). So another major account could be lost there. KJ

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To: LTBH who wrote (56736)	1/22/2016 5:24:17 PM
From: Wallace Rivers	of 77746

Absolutely not debating that the Costco AMEX transaction amount dwarfs Fido. I would hazard a guess that the Fido spend per card is significantly more than the Costco spend/card. That's the point I was trying to make.

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From: LTBH	1/22/2016 5:24:48 PM
	of 77746

RE Amex This excerpt, from the Plumbers and Steamfitters Local 137 Pension Fund lawsuit against Amex, gives an estimate of Costco loss: "The investors contend that the U.S. Costco co-branding contract was “highly material to AmEx’s business,” representing 8% of the company’s revenues in 2014; 20% of its outstanding loans and 10% of its cards issued worldwide." consumerist.com Luck LTBH

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To: Jurgis Bekepuris who wrote (56709)	1/22/2016 6:07:25 PM
From: Graham Osborn	of 77746

I actually did too yesterday, just b/c Brent spiked and some of the microcap oils didn't budge. Sold on the spike this AM.. I try not to do that sort of thing but in this case just couldn't resist :)

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From: staring	1/23/2016 10:33:21 AM
	of 77746

Why These Stocks are so Cheap? UNFI BOSS appear to me really cheap with great upside. To me they appear to have very low multiples and good growth prospects. Why no one is paying attention? Am I missing something? Disclosure: I am long in both

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