Thank you tripod. Now THAT's the kind of answer I am looking for!
I do have a few questions though... and perhaps it will also shed some light as to why I didn't get into the buy....
Visa uses an open-ended royalty system that Mastercard also uses, Discover has at a discount, and American Express is opening up with soon. What competitive advantage does Visa bring with theirs that others do not?
The IPO was only a month ago. How did you conclude that it was undervalued, despite all the hype?
Again, what is the forward fundamental that suggests that Visa will sustain this level?
Finally, would you recommend a buy NOW? Because what happened has already happened right? And I can't go back in time to buy it at the IPO price.... So, the only thing I can consider is whether to buy it now or not.
I hope this doesn't seem to come across as personal attack either. I've got money in reserve for a buy if this is still a good opportunity. Again, I'm really happy for you guys that Visa is panning out so well. I agree Visa is indeed a good company, but is it a good investment now?