1 Warren Buffett Stock to Buy Hand Over Fist in November

Core Viewpoint - The holiday season is expected to drive strong performance for American Express, with the company well-positioned for growth amid a bull market, particularly benefiting from affluent consumers and a robust rewards program [1][3][11]. Company Performance - American Express has shown resilience, with a 9% year-over-year revenue increase to $421 billion in the third quarter and a 19% rise in earnings per share (EPS) to $4.14 [11]. - The company raised its full-year revenue growth forecast from a low of 8% to 9%, and EPS from $15 to $15.20, indicating strong future prospects [11]. Market Position - American Express has a unique economic moat due to its fee-based model, which fosters customer loyalty, with 72% of new card acquisitions in Q3 being fee-based products [6][7]. - The company has successfully refreshed its fee-based cards, leading to a doubling of new U.S. Platinum account acquisitions compared to pre-refresh levels [6]. Consumer Demographics - The affluent consumer base of American Express is more resilient to economic pressures, with U.S. Platinum card consumers spending over $500 billion annually [7][8]. - The company added 3.2 million new cards in the quarter, with 64% of these going to millennial or Gen Z customers, who represent a significant portion of future spending [12]. Long-term Growth Potential - American Express benefits from network effects, as increasing membership attracts more merchants, creating opportunities for sustained growth and shareholder rewards [13].