From Barn Funds second quarter commentary:
Visa, Inc. (V, Financial) owns the largest global payment network and we are fans of its low capital intensity, massively scalable business model. The shares rose 5.0% during the quarter. The outperformance was driven by its strong fiscal second quarterly earnings report in April and increasing expectation of a favorable legal settlement with merchants (which did occur in July after the quarter ended).We remain long-term believers in Visa, as it is the dominant payments network in the world (over 55% of all credit/debit card transactions) with high barriers to entry and a long organic growth runway as plastic continues to gain transaction/volume share from cash and/or checks. (Robert Susman)
Visa, Inc. (V, Financial) owns the largest global payment network and we are fans of its low capital intensity, massively scalable business model. The shares rose 5.0% during the quarter. The outperformance was driven by its strong fiscal second quarterly earnings report in April and increasing expectation of a favorable legal settlement with merchants (which did occur in July after the quarter ended).We remain long-term believers in Visa, as it is the dominant payments network in the world (over 55% of all credit/debit card transactions) with high barriers to entry and a long organic growth runway as plastic continues to gain transaction/volume share from cash and/or checks. (Robert Susman)
