Visa: A Lesson In Value Creation

belterz/E+ via Getty Images Introduction Visa (NYSE:V) is the world's largest payment network operator, ahead of Mastercard (MA) in second place. I believe Visa has the much sought after combination of a robust top and bottom-line growth, a capital-light business model, a clean balance sheet, a steady reduction in shares outstanding, and high returns on shareholder capital, which are well in excess of the firm's cost of capital. Visa is what we might refer to as a "set-and-forget" or "Coffee Can" investment ...