BY BROCK WATERMAN

VISA (V) – WHAT THEY DO Visa Inc. is a global payments technology

company that connects consumers, businesses, financial institutions and governments in more than 200 countries and territories, enabling them to use digital currency instead of cash and checks

Visa does not issue cards, extend credit or set rates and fees for consumers

Visa’s corporate overview: http://corporate.visa.com/_media/visa-corporate-overview.pdf

VISA (V) – WHY BUY IT Excellent business model, no risk from defaults

because they are transaction based #1 world wide company and growing

#1 ATM and credit card in every I have been to (and that is over 30 at this point)

Huge in emerging markets, well ahead of MasterCard Low PEG Ratio and near 52 week low No risk of becoming insolvent even during rough

financial times Hard for other players to get into market at a

large scale

VISA (V) - DIVIDENDS

Dividend Payouts – Class A Common Stock

VISA (V) - NEWS, NEGATIVES & POSITIVES News - July 2010, the Company acquired

CyberSource Corporation Negatives – High Price to Free Cash Flow, High P/E

& Low Dividend Positives – Low PEG Ratio, Earnings & Sales

Growth, High Margins, Almost No Debt, Great Liquidity Ratios & a Great Business Model