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To: Wallace Rivers who wrote (56727)	1/27/2016 7:56:18 PM
From: ferris wheel	of 77756

Hi Wallace, AXP doesn't seem to want to find a bottom. Bought it in the $70s and thinking of selling and taking a loss. I really don't want to ride it down to the 40s. Any thoughts on this persistent selling? GLTA, FerrisWheel

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To: ferris wheel who wrote (56764)	1/27/2016 8:02:36 PM
From: Spekulatius	1 Recommendation of 77756

Re AXP - I bought a small position today at $55 after some consideration. I think the headwinds are there, but the brand is still intact and it's a good business. Of course it could come down some more, especially if the market tanks, but I think at current prices, there is value.

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To: ferris wheel who wrote (56764)	1/27/2016 10:29:10 PM
From: MNTNH	of 77756

Im not Wallace but I can offer some factors. :) Losing costco as a co-brand card (some big topline numbers shown) Losing the antirust suit Potential removal of anti-steering of which "supposedly" will lower network prices according to D.O.J. (related to the lawsuit) Declining revenues (less charge volumes) Threat of new payment networks/ systems Recent sharp drop in 4Q profits (but dont think people actually read the financials. last year exceptional gain and this year exceptional impairment) There were several important snippets that I think the crowd missed. Just wanted to pick some thoughts, of all the people here using the costco card...so what if amex-costco is removed? What would you do? Get new costco-visa card or shop elsewhere with a amex card or generic payment acceptance?

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To: MNTNH who wrote (56766)	1/28/2016 11:10:33 AM
From: Wallace Rivers	of 77756

Well, I'm not stopping going to Costco every 6 weeks or so. I already have a Visa card, so I may use the one I already have for purchase at Costco. Just use the Costco membership card to get in. Unless the new Costco Visa offers 2% for Costco purchases. My current Visa already offers 1% back.

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To: Paul Senior who wrote (56754)	1/28/2016 11:17:14 AM
From: Wallace Rivers	of 77756

I was called a luddite (sp) many moons ago when I questioned a person's investments shortly before one of the crashes we've experienced. He subsequently took a huge haircut a month or so thereafter. With that caveat, can someone tell me why AAPL should be valued at less than 10X earnings, while FB is north of 100X earnings? I know they are in different stages of growth, but this seems like a disconnect to me. But, maybe I AM living under a rock!:>)

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To: Wallace Rivers who wrote (56767)	1/28/2016 11:17:52 AM
From: Jurgis Bekepuris	of 77756

You can get Capital One Quicksilver Visa that gives 1.5% back on everything. I believe there is Citi card that gives 2% back on everything. There is also Fidelity-soon-to-be-Visa card that gives 2% back on everything, but you need an account with Fidelity to get it.

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To: Wallace Rivers who wrote (56768)	1/28/2016 11:24:11 AM
From: Jurgis Bekepuris	of 77756

If it's not a rhetorical question, you could buy AAPL and short FB you know. ;) I would not advise doing the second. I have been buying AAPL, but I'm usually a contrary indicator, so caveat emptor. Edit: 540 page thread on AAPL cornerofberkshireandfairfax.ca ( as expected there are many more negative opinions now that stock is cheap than there were when stock was expensive ). I won't link to FB thread, since I don't think there's much interesting there beyond well known bull thesis.

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To: Spekulatius who wrote (56765)	1/28/2016 12:13:09 PM
From: ferris wheel	of 77756

Re:AXP Wow! Looks like my 40s prediction for AXP will come to fruition. Tried dumping today (a little too late). Can't get my limit hit. It just keeps dropping below my ask price. Good Luck, FerrisWheel

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To: Wallace Rivers who wrote (56768)	1/28/2016 12:47:31 PM
From: Graham Osborn	of 77756

The answer is growth, and yes there is a disconnect. The market views the iPhone as a commodity product and Facebook as a moat.

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To: MNTNH who wrote (56766)	1/28/2016 1:37:44 PM
From: Spekulatius	of 77756

People will continue to shop at Costco and pay using Visa. I suspect most will probably use a Visa they have already rather than get just another Visa card cobranded by Costco. I doubt that most customers will care. Personally, I like Amex for the extended warranty, the optional primary rental insurance and the access to customer reps (which are knowledgable and courteous ). I pay with Amex when I can, especially for larger purchases and travel, since I like that added layer of insurance that the Amex card brings (Visa or MC have si liar benefits but I don't think they are quite as easy to get if you need them, I can attest that with Amex works).

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