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Patrick McKeough is one of Canada’s top safe-money advisors. The Wall Street Journal, Forbes and The Hulbert Financial Digest have all recognized his ability to find stocks with hidden value. He is editor and publisher of The Successful Investor, Stock Pickers Digest, Wall Street Stock Forecaster and Canadian Wealth Advisor; inventor of the Quick Profit/Value System and the ValuVesting System™. A best-selling Canadian author, he wrote Riding the Bull, the book that predicted the 1990s stock-market boom.

…but high-quality clientele helps Amex

October 28, 2011 -  Be the first to comment
Posted by: Pat McKeough Filed in: Conservative Investing
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AMERICAN EXPRESS CO. $51 (New York symbol AXP, Conservative Growth Portfolio, Finance sector; Shares outstanding: 1.2 billion; Market cap: $61.2 billion; Price-to-sales ratio: 1.9; Dividend yield: 1.4%; TSINetwork Rating: Average; www.americanexpress.com) earned $1.2 billion, or $1.03 a share, in the three months ended September 30, 2011, up 13.0% from $1.1 billion, or $0.90 a share, a year earlier. Loan-loss provisions fell 33.2%, to $249 million from $373 million. Amex’s cardholders have above-average credit scores and incomes, so they are less likely to fall behind on their payments.

Revenue in the quarter rose 8.6%, to $7.6 billion from $7.0 billion, as cardholders increased their spending by 16%.

American Express is still a hold.

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