American Express
Is American Express (and financial stocks) still cheap?
There are very few financial companies that one can actually analyze and thus value -- American Express (AXP) is one of them, and I believe it's a great proxy for other financial stocks.
AmEx as a Bank Holding Company
AmEx becoming a bank holding company (BHC) is not just net positive for the company it is simply positive. When a highly leveraged investment bank like Goldman Sachs turns into a BHC, its future profitability suffers as its leverage drops to commensurate level of the bank.
The Wall Street Transcript Interview Excerpts
I was interviewed by The Wall Street Transcript, and I will share some excerpts from the interview.
