MA - Mastercard Inc.

Listed among 18 stocks near intrinsic value with potential for 9%+ returns over 10 years. No detailed analysis provided in this video.

Christophe holds a 13% position as one of his three core holdings that 'move the needle.' No detailed discussion but it's a significant position in his concentrated portfolio.

Christoph is very bullish on Mastercard, citing its asset-light model, 10-12% revenue growth, expanding margins (~60% adjusted), massive buybacks (2-3% of shares annually), and significant undervaluation (42% per DCF, P/E of 27). He believes regulatory fears are overblown based on historical precedent, stablecoin threats are minimal, and international competition is manageable. He expects ~18-20% annual returns and is buying the dip.

Berkshire sold out of Mastercard. Context suggests this was likely due to portfolio manager changes, not a statement about the business.

Stock is down due to sentiment and temporary concerns (regulation, consumer weakness, AI capital rotation) while fundamentals remain excellent: 15% revenue growth, 50%+ operating margins, aggressive buybacks, asset-light model. DCF model shows 35-62% undervaluation with fair value of $670-$800. Even in a worst-case scenario where payments are disrupted, Mastercard can pivot to being a data company with its billions of transaction data points. Actively buying the dip.

Mentioned as having almost no capex. Part of the portfolio's low-capex strategy.

The speaker argues Mastercard is still growing revenue, margins, earnings, and free cash flow, doing buybacks, and fighting regulatory challenges. The stock being down makes the opportunity more appealing from a risk-reward perspective.

Akre trimmed the position. It was their biggest position and a long-term winner, but is 'no longer winning.' Being reduced to fund software purchases.

Very bullish contrarian play. Stock down ~15% due to regulatory fears and not being 'AI sexy'. Grows 15% per year, margins at all-time highs, massive buybacks. DCF model shows 40% undervaluation with fair value of $730. Regulatory concerns expected to clear by October.

The host personally states he is 'buying the dip heavily' on MasterCard, which faces the same regulatory headwinds as Visa (interest rate caps, swipe fee legislation). Shares the same asset-light, duopoly characteristics as Visa.